Shanghai recently rolled out policies to boost the silver economy and improve quality of life among the elderly.

The Shanghai Municipal People's Government announced on Dec 27 that the regulations mainly cover key areas such as diversifying elderly care services, developing rehabilitation equipment industries, and optimizing services for barrier-free access facilities.

A series of measures have been listed to support the proliferation and standardization of elderly care institutions. In addition to urging specialized institutions to add more beds for elderly with cognitive impairment, the regulations also encourage community-based inspection and rehabilitation services.

The policies also support advancing the R&D and manufacturing of rehabilitation equipment. To promote sales, more outlets will be set up at supermarkets and community service centers. Insurance companies are encouraged to include it in their coverage.

To improve the living conditions of the elderly, incentives are being offered for the construction of new housing to suit people of all ages. For existing houses, senior-friendly renovations are encouraged. Department stores and malls are also advised to set up experience areas for senior-friendly facilities.

In addition, the policies expand the scope of elderly education and encourage the development of video games and fitness services tailored to seniors. They also promote the creation of exclusive travel offers and discount products for elderly customers and improved accessibility to wheelchair-friendly facilities in different scenarios.

Furthermore, the policies encourage companies to develop smart elderly care products, such as life assistance tools, health services, and rehabilitation aids. Shanghai also plans to build smart elderly care homes, integrate and optimize community-based care services, and regularly update a directory of smart health and elderly care products for public reference.

Moreover, the government will strengthen public outreach through financial institution branches and social media channels, raising awareness of personal pension policies. The measures also support the creation of related financial products such as elderly-focused wealth management and trust products.

Source: Shanghai Municipal People's Government