Tax revenue data shows: silver-haired economy in China is developing rapidly in the first half of the year.

The latest value-added tax invoice data released by the State Administration of Taxation on the 16th show that in the first half of the year, China's silver economy has developed rapidly, with related industries experiencing fast income growth. On the supply side, elderly care services continue to improve, and silver products are being iterated at an accelerated pace. In the first half of the year, sales revenue in the national elderly care and disabled care service industry, elderly-friendly home service industry, and elderly-friendly social care and assistance service industry increased by 40.9%, 14.1%, and 8.8% respectively compared to the same period last year, exceeding the national average growth rate of the service industry by 37.7, 10.9, and 5.6 percentage points respectively. The number of entities engaged in the production and manufacturing of silver products nationwide increased by 14.1% compared to the same period last year; sales revenue for elderly-friendly fitness equipment manufacturing, rehabilitation aid manufacturing, and nutritional health food manufacturing increased by 14.7%, 12.1%, and 6.9% respectively compared to the same period last year, exceeding the national average growth rate of the manufacturing industry by 9.5, 6.9, and 1.7 percentage points respectively. On the demand side, in the first half of the year, sales revenue for community elderly care services, institutional elderly care services, and home-based elderly care services increased by 30.4%, 22.6%, and 18% respectively compared to the same period last year. Sales revenue for mobility and hearing aid products, senior nutrition and health products, and health monitoring equipment increased by 32.2%, 30.1%, and 7.5% respectively compared to the same period last year.