It’s a numbers game.
Over the next decade, about 300 million Chinese may enter retirement- the equivalent of nearly the whole US population. By 2040, according to Euromonitor, one in every two adults over the age of 65 in the Asia-Pacific region may reside in China.
Some investors see the growing share of older as a sure bet, even though China’s business base, government finances, and efforts to end poverty are all threatened by the country’s demographic crisis.
Mama Sunset, which provides 20 different courses to hundreds of Chinese adults over the age of 50, is in discussions with private investors to start franchiseing 200 locations across the nation in the next three years when it wants to record on the Hong Kong change.
According to Frost &, Sullivan, Nasdaq-listed Quantasing, the largest online old understanding company in China, plans to add more tai chi and conventional medicine instructors to existing classes ranging from memory coaching to video editing.
It also plans to leverage its customer base to sell products such as moxa sticks, used in traditional medicine, or Baijiu, a Chinese liquor.
Quantasing’s revenues grew 24.7 per cent year- on- year for the final quarter of last year to 980.5 million yuan ( US$ 136.2 million ), while its total registered users shot up 44.6 per cent year- on- year to 112.4 million at the end of 2023.
” It’s a real sunrise industry”, the firm’s CEO Matt Peng said.
China’s government also is getting involved, announcing tax incentives and financial support for goods and services for the elderly in January. Premier Li Qiang pledged in March further efforts to develop” the silver economy”, without elaborating.
As part of a poverty alleviation program, the provincial government of Hebei provided the land and space for Mama Sunset’s Cangzhou branch.