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China's communities pioneer elderly care with silver economy

04:55

China is experiencing an aging trend, driven by an increase in the average lifespan and decreasing birth rates, with the elderly population projected to exceed 500 million by 2050, accounting for over 40 percent of the country's total. Concomitant to this is a shift from traditional family-based to a collective responsibility model for elderly care. This social transformation is giving rise to new economic sectors. CGTN reporter Guo Tianqi learns how communities in Shanghai are providing diverse services to support the older generations while promoting local growth.

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