How China pivots to a cater for its growing aged population

Hello again, welcome back to Aim2D.
Probably like us you have heard variations of the way society is defined. From Pope John, Paul II to Churchill, to Gandhi to Truman and many others, the over-arching theme is that society should be judged by the way it treats it’s weakest members, be them aged, children or infirm. You might want to reflect on how your society fits into this equation, but today we are going to take a quick look at China and its response to its rapidly ageing population.

We have talked about the new found pursuit of health and fitness in China many times before. And how it is now a white hot market. So let’s be under no illusion that it is not philanthropy or love for our fellow man (or woman) alone that drives this market. Commercialism has a big hand. And maybe that’s OK?

Chinese seniors are also starting to rebel against the image of dowdy cardigans and rocking chairs as our Silver Market piece shows. Odds on that the China you thought you knew, or have been told about, is not the China you will find when you come here.

Age is a State of Mind~.

Challenging China Stereotypes

Sex and the single Chinese Girl

The weaker members of our society have many needs, from education, transport, support / care and of course, health. Today, we will look at it from a health perspective, simply because the China health, medicine and pharmaceutical industry is one of the key planks of our portfolio.

We will start of with a look at how the growing “Silver Market” (AKA the grey or white haired aged community) is helping reshape China’s business landscape, followed by a nice little slide show on China’s Tenth International Senior Services Expo. We will close off with an edited version of one of our clients Press Releases. Well, they do help pay our rent~

Silver economy reshaping biz strategies

**Image and quotes below courtesy of China Daily**

The elderly population is accelerating the development of the silver economy, whose scale has reached some 7 trillion yuan ($979 billion) currently, accounting for about 6 percent of the country’s GDP.

By end-2023, there were over 490,000 business entities engaged in the eldercare business in China, focusing on home care, rehabilitation, adult education, leisure and entertainment.

As we mentioned last Friday, many countries are seeing an increase in aged, retired or infirm citizens. This places new demands on business who must come up with new strategies to attract and keep this consumer segment. In the age of AI, Apps galore, AR and other tech, brands will face the challenge of a growing sector of their consumer base for whom technology is not a strong suit. Furthermore, given natures preference for endowing females with a longer lifespan, gender will play a large role. Especially in health care and fitness.
How firms respond to this is critical for their survival.

Negotiating China’s Changing Social Landscape

To underscore how seriously China views this we also take a look at how health and welfare business are moving to support the aged in China.

**Please press anywhere in the image to start the slide show**

And so to wrap today’s article, we end with an (edited) press release from our client, Zialab Pharmaceuticals, Beijing.

Zai Ding Medicine’s three new drugs are expected to be approved this year. CEO Du Ying said it is about to achieve profitability

On May 9, 2024, Zaiding Medicine released its Q1 2024 financial report and its recent updates. It is reported that Zaiding is expected to achieve several major accomplishments in 2024. Among them, the relevant drug marketing applications for sulbactam sodium-dulobactam sodium for drug-resistant Acinetobacter baumannii, Agamod subcutaneous injection dosage form for systemic myasthenia gravis (gMG), and reputinib for ROS1-positive non-small cell lung cancer (NSCLC) are currently under review by the National Medical Products Administration (NMPA) of the Chinese government and are expected to be approved within 2024.

As the founder and chairperson of Zai Ding Medicine, Dr. Du Ying affirmed the group’s performance.

“This quarter’s results demonstrate significant progress in our monetization implementation and R & D pipeline with our unique and promising product portfolio. Weijia performed well in Quarter 1 with sales of $13.20 million. Looking ahead, we look forward to accelerating our monetization pace for the remainder of the year and preparing for the launch of three new products in 2024. At the same time, we are confident in the progress of the pipeline in the later stage of Zai Ding and are steadily advancing various indicators in the five-year strategic plan, including significant revenue growth and profitability by the end of 2025.”

Zai Ding Medicine also revealed that there will be multiple important milestones this year, including in the field of oncology.

If you’d like to chat or need advice about negotiating the complex China marketing landscape, why not book a free, confidential, short chat with Everlyne Yu -CEO and founder of Uengager? Could be the best value 20 minutes you ever spent~