2030
PERCENT OF ELDERLY(PERSONS OVERTHE AGE OF 65)
2015 2020 2050
TODAY THERE ARE NEARLY 200 MILLION ELDERLY PEOPLE (65+)THE NUMBER AND IMPORTANCE OF THIS POPULATION WILL KEEP INCREASING IN CHINESE POPULATION DISTRIBUTION
0
5
10
15
20
25
1 CHILD TAKES CARE OF HIS 2 PARENTS
WHO LOOK AFTER 4 GRAND-PARENTS
TODAY THERE ARE NEARLY 200 MILLION ELDERLY PEOPLE (65+)THE NUMBER AND IMPORTANCE OF THIS POPULATION WILL KEEP INCREASING IN CHINESE POPULATION DISTRIBUTION
THE ONE-CHILD POLICY AND THE 4-2-1 SYSTEMChinese culture and Confucius principle made younger
generation taking care of their parents and seniors the norm
LOWEST RETIREMENT AGE IN THE WORLD1st
China has the lowest retirement age in the world, at 55 years old
Forcast by the US Census Bureau
RATIO OF WORKERS TO RETIRED PEOPLE
*
*
2015
2:1 12:1 6:1 2050
Among 200 million of elderly citizens in China less than 2.1 million are being cared for in nursing homes (1%)
Predicted growth: 99 billion RMB today 326 billion RMB in 2050.
Healthcare monitoringSta� availability
Outdoor elderly care
3.4 million more hospital and nursing home beds
between 2015-2020
RATIO OF WORKERS TO RETIRED PEOPLE
LIFE EXPECTANCY SURGE
EXPANSION1985 2000 2015
66 72 77
GOVERNMENT INCENTIVESNURSING HOMES GROWTH SECTORS
Predicted growth: 99 billion RMB today 326 billion RMB in 2050.
Healthcare monitoringSta� availability
Outdoor elderly care
3.4 million more hospital and nursing home beds
between 2015-2020
EXPANSION
In China half of China’s elderly income comes from family, far more than in Western countries
FAMILY
A quarter of their income comes from the state, in contrast to the USA where over 40 percent of the elderly comes from social security.
Average State Pension: 1,600 RMB
A quarter of the annual income of Chinese comes from savings based resources, in contrast to the USA where 19 percent comes from personal savings, annuities and employee pensions
PERSONAL SAVINGS
INCOME SOURCES OF CHINA’S ELDERLY
50%
25%
25% STATE PENSIONS
ONE HOUSE
TWO HOUSES
NO HOUSES THREE OR MORE HOUSES
15% ARE LIVING WITH THEIR YOUNGER GENERATION AND DO NOT OWN ANY HOUSE
AVERAGE NUMBER OF HOUSES
78%
6%15%1%
A quarter of the annual income of Chinese comes from savings based resources, in contrast to the USA where 19 percent comes from personal savings, annuities and employee pensions
ONE HOUSE
CONSUMPTIONOF THE ELDERLY
15% ARE LIVING WITH THEIR YOUNGER GENERATION AND DO NOT OWN ANY HOUSE
Total Value of the elderly market was estimated at RMB in 2015.
Chinese elderly consume for about 10,000 RMB a year on average
4,000,000,000,000 RMB
10,000 RMB/YEAR
MARKET OVERVIEW
China is the world’s third largest market for medicine. Sales in 2014 were $94 billion (up 14% year on year) in 2014.
40% of Chinese retirees are willing and able to go on holiday.
There are 60,000 elderly education institutions and 7 million senior students nationwide.
10,000 RMB/YEAR
KEY MARKETS
HEALTHCARE
TOURISM
CULTURE
Over a third of 50-59 year old internet users in China identify themselves as being frequent technology users and this rises to 41% for the 60+ (compared to Asia-Pacific averages of 19% and 5%)
DIGITAL