China plans vouchers for consumption for the elderly to ease the tension on its aging population

China plans to offer subsidies coupons Elderly people are rare to use direct financial support, as Beijing seeks to facilitate the financial burden on its aging population and ensure consumption of the elderly.

The help will be paid monthly as electronic coupons to cover some of the costs for the care of the elderly, according to a joint statement The Ministry of Civil Affairs and the Ministry of Finance were issued on Wednesday.

Chinese politicians avoid direct cash materials, similar to what the US and Hong Kong during the pandemic to stimulate costs, even if they activate their employment and support efforts improve social well -being.

“The financial burden created by the older people for the households of Chins … is one of the major modern restrictions on reducing the precaution and increasing domestic consumption,” said Alfred Mantasu-Helo, an advisor in Beijing to multinational enterprises.

The elderly will be evaluated by their physical disability, and only to those who are evaluated as “moderately, severely disabled”, such subsidies will be allowed, the official statement said.

Currently, the assistance is set up from 500 yuan and 800 yuan a month and can be used to pay part of costs for certain senior care services, such as help with food and swimsuit, rehabilitation and day care.

The details of the plan may be “optimized” as the authorities will rule the pilot in individual cities this month before the nationwide deployment at the end of this year. The scheme will last 12 months.

Measures can stimulate the adoption of such senior care services and alleviate a “hefty burden on the care of the elderly” for family members, said Tianchen SU, senior economist.

Feeling this opinion, Lynn Song, the chief economist of the Great China to Ing, said that, while “strengthening the social security network was one of the main goals to better unlock the consumption, these measures can be interpreted as steps in this direction.”

As the age of China’s age and middle -class consumers are facing Enterprises aimed at the elderly which have accumulated sufficient retirement agents.

“It is very important for the government to continue moving forward with the reforms and strategies that decide deeper structural (demand) imbalance,” said Mantasu-Hella.

According to a statement on Wednesday, financial assistance will be mainly financed by the central government, and local authorities make a smaller share.

“Senior care is a key component of extensive consumption in the country. The initiative is designed to form new growth drivers and the best coordination of economic development with social security,” the CNBC said in a statement.

Economists have increased calls for Beijing to put the priorities of policy aimed at strengthening the country’s social security network to resolve the aging of the population, high level of youth unemployment and rapid consumption of internal affairs.

“The installation of demographic and economic pressure makes Beijing emphasize the agenda of social policy in the next 15-year plan,” “ The Eurosia Group group notes in the note on Thursday.

“Strengthening the social security network, especially through changes in pensions and health care, is high on the agenda to adapt to high -speed society,” the eurosia group said on Thursday.

About 22% of China’s population was 60 years of age or older at the end of 2024, said 18.7% in 2020. Population at the age of 65 and above in China reached 216.8 million in 2023, which is 15% Total population.