九州大药房相关负责人指出，要加强政策支持与行业监督，推动银发经济产业链上下游企业深度协同， 搭建一体化服务平台，为产业赛道发展奠定坚实基础。 "让银发服务嵌入生活场景，能更好激活'家门口经济'"。杭州望潮社会服务中心负责人陈海龙建议，聚 焦银发新生，重点关注老年群体再就业与社会参与，开展针对性职业技能培训，创造再就业机会，激发 社区场景活力。 针对信息碎片化问题，范懿心提出构建区域性服务对接平台，推动信息资源从碎片化向整合化转变，实 现老年群体需求与服务供给的精准匹配，加快银发产业集群化发展。 关于"分散服务"瓶颈的突破，拱墅区侨创联盟代表认为要强化牵头抓落实机制，梳理并明确服务清单， 通过打造"银发服务驿站"等枢纽节点，构建可持续发展生态。 商报讯(记者潘婷婷通讯员邵翀江斌)当千年运河商脉遇见万亿银发经济，会迸发怎样的火花？近日，在 拱墅区大关街道北新商务社区"茶暖北新畅享银龄未来"红茶议事会上提出了这个新议题，共谋区域银发 经济高质量发展新路径。 "北新"二字，源自明清北新关，曾是南北货通、商脉汇聚之地。如今，这片土地正将历史积淀的开放基 因注入银发服务新领域。 现场，北新商务社区亮出今年成绩单：指导钱江 ...

泰国发展研究院不久前发布的一项研究预测，随着老龄人口的快速增长，到2033年，泰国老年消费支出 将达到3.5万亿泰铢（1美元约合32泰铢），并将有660万即占60岁及以上人口37%的老年人活跃在就业 市场，老年人就业收入有望从2024年的6400亿泰铢增至2033年的8800亿泰铢，形成新的经济增长点。泰 国国家经济和社会发展委员会表示，应适时出台支持专业养老产品研发、安全住房改造、延迟退休及财 税激励等措施，做好长期规划、整合发展。 泰国发展研究院建议，应出台政策鼓励从事"第二份职业"，为个人在退休前后的职业转型提供新的技能 和理念。这包括推动立法以促进适当的退休后就业，延长公共和私营部门的退休年龄等。研究还提到了 围绕银发经济的四大潜力行业：老年住房与无障碍改造、营养与易食食品、健康护理与关怀、休闲娱乐 与社交服务。这些领域不仅满足老年人需求，也创造老年人就业新机会，如社区护理、线上内容创作 等。泰国发展研究院研究员索瓦叻表示，随着老年人相关产品和服务市场需求的持续增长，政府需要制 定灵活的政策措施来鼓励满足这些新的需求和业务。 目前，泰国养老相关产业规模不断扩大，2022年已达1000亿泰铢。泰国公共卫 ...

Core Viewpoint - Shanghai is emerging as a global hub for biopharmaceutical innovation, with local companies leveraging innovation, transformation, and internationalization to enhance their competitiveness on the world stage [4][6]. Group 1: Innovation - Junshi Bioscience has focused on unmet clinical needs, successfully launching its PD-1 monoclonal antibody, which has reshaped the landscape for domestic innovative drugs in international markets [4][5]. - Fosun Pharma has achieved significant milestones in innovation, including the development of China's first self-developed CAR-T cell therapy product and the first PD-1 monoclonal antibody approved for first-line treatment of small cell lung cancer [8][9]. - The company has established a comprehensive innovation system, with over 12 innovative drugs launched during the 14th Five-Year Plan period, focusing on oncology, immune inflammation, and chronic diseases [11][12]. Group 2: Transformation - First Pharmaceutical has adapted to the challenges posed by e-commerce in the pharmaceutical retail sector by integrating smart healthcare services, revitalizing its traditional pharmacy model [5][30]. - Fosun Pharma's transformation journey aligns with the rapid evolution of China's innovative drug industry, emphasizing a combination of generics and original innovations [5][11]. - Seer Bio has expanded its research into broader biotoxin treatments after mastering snake venom therapies, indicating a strategic shift towards a wider range of biological toxin therapies [5][26]. Group 3: Internationalization - Fosun Pharma has successfully penetrated international markets, with its anti-tumor innovative drug, Slulizumab, approved in approximately 40 countries, showcasing the company's global strategy [12][13]. - Junshi Bioscience has transitioned from a "single-point breakthrough" to "platform innovation," with its core product, Toripalimab, now available in major markets including the US and EU [16][17]. - The company is building a global commercialization network through partnerships and local teams, aiming to enhance its international presence [22][23]. Group 4: Market Challenges and Opportunities - First Pharmaceutical faces significant challenges in the pharmaceutical distribution industry, including regulatory changes, evolving sales models, and increased consumer expectations for professional services [32][33]. - Despite these challenges, First Pharmaceutical has reported substantial revenue growth, with sales increasing from 1.398 billion yuan in 2021 to 1.915 billion yuan in 2024 [32]. - The company is strategically focusing on the silver economy, aiming to develop integrated services for the elderly, aligning with national policies on aging [34][35].

Core Insights - The "Fourth Insurance and Pension Integration and Development Forum" was successfully held in Hefei, focusing on addressing the real concerns of millions of Chinese families regarding pension issues and exploring the integration of insurance and pension solutions [1][4] - Yang Kuan, the head of Dajia Jiantou, shared insights on the "Urban Heart Pension" model, emphasizing its role in reshaping perceptions of elderly care and addressing the challenges of the silver economy [3][5] Urban Heart Pension Model - The "Urban Heart Pension" model emerged from a 2019 study by Dajia Insurance, highlighting the dual needs of the elderly for quality medical resources and emotional companionship [3] - This model focuses on creating a "new living space" for seniors in urban core areas, integrating medical proximity, family closeness, and community engagement [3] - The model has evolved from its initial concept to a comprehensive service capability, with the recent opening of the Dajia's Home Hefei Wutongli Urban Heart Community exemplifying this integration of urban culture and the "Urban Heart" concept [3] Development Trajectory - Since launching operations in Beijing in late 2019, Dajia's Home has established a strategic presence in 14 cities with 16 Urban Heart communities [3] - Notably, the average occupancy rate across six operational communities in cities like Beijing and Tianjin is nearly 90%, with specific communities achieving occupancy rates of 99% and 97% after five years of operation [3] Core Competencies - Dajia's Home is revitalizing state-owned assets like Qiyun Mountain Villa in Hefei, creating a dual benefit of pension services and urban renewal [5] - The company has developed a robust core competency system, including experience management, digital operations, and chain management, and has established a "Senior Experience Database" to enhance service precision [5] Contribution to Silver Economy - The silver economy is viewed as both an economic and social challenge, and Dajia's Home aims to innovate within the "Urban Heart Pension" model to enhance the quality of life for seniors [5] - The company seeks to contribute to the development of the silver economy by providing high-quality elderly care that fosters familial bonds and ensures a healthy, happy retirement for seniors [5]

Core Insights - The report released by UNDP and Industrial Securities focuses on the opportunities in the aging economy, emphasizing the importance of building an inclusive and sustainable elderly care ecosystem [1][2] - Industrial Securities has positioned itself early in the personal pension finance sector, being one of the first brokerages to pilot personal pension product distribution, with nearly 700,000 personal pension investment accounts opened [1] - The total scale of the pension fund managed by its subsidiary, Xingsheng Global Fund, is nearly 6 billion, with the first pension target fund achieving a return of 84.25%, ranking first in investment returns among similar products over the past three years [1] Report Highlights - The joint report titled "Financial Empowerment of China's Silver Economy: Promoting Inclusive and Sustainable Development in an Aging Society" identifies two core areas: matching the multi-level pension needs of the elderly with service supply and recognizing investment opportunities within the silver economy [2] - Additional reports focus on the construction of the elderly care service system and the well-being of the elderly population, addressing issues such as the significant structural differences in demand and regional imbalances in supply [2] - The report on the multidimensional vulnerability of the elderly population provides data assessments of the overall well-being of the elderly, offering a basis for precise service supply [2]

十月末的内蒙古乌兰察布，夜里气温已跌至零下4度，寒意沁润旷野。但在东北部的化德县，一家占地 4000多平方米的制衣工厂灯火通明。车间里，工人们坐在缝纫机旁，十指翻飞，机械的嗡鸣伴着驼绒毛 和布料摩擦的声音，一刻也不停歇。 双十一购物节正销售火热。"最近，我们工厂每天早晨五点多就开工了，一直生产到晚上十点左右。"说 话的是郝宇。他是一位85后，土生土长的化德县人。十年来，他在拼多多上创办驼绒服品牌"牧驼人"， 将一个"好多人都没听过"的冷门品类，做成了年销超2000万元的大爆款。"预计整个双十一期间，拼多 多的销量要比去年增长70%—80%。"他说。 前端的销售数据不断攀升，后端车间里的薪资也水涨船高。化德县目前从事服装产业的人员约2万人， 绝大多数是拥有十年以上从业经验的"棉服娘子军"。在郝宇的工厂里，旺季的订单需求让女工们月入过 万成为常态。 这座扎根化德县的制衣厂，借着拼多多等电商平台，在大草原的肌理间跑出了属于自己的朝阳速度。昔 日的落后产业，插上电商的翅膀后，正在焕发新生。 草原汉子南下淘金，盯上银发市场 驼绒服，并不是郝宇的第一次创业。他的第一桶金，源于"一件代发"的女装电商生意。 2008年，从营 ...

要深入推进城乡融合发展。持续推进"四好"农村路建设，补齐设施短板，完善公共服务功能，提升乡村 建设水平和生活品质。坚持以城带乡，推动城市基础设施、公共服务向乡村延伸。维护进城落户农民的 农村权益。缩小城乡差距、收入差距，推动实现共同富裕。 《实施方案》明确，要着眼动能转换，着力推进创新城市（300778）建设。具体而言，要激发城市发展 内生动力。因地制宜发展新质生产力，大力发展生产性和生活性服务业，积极发展首发经济、银发经 济、冰雪经济、低空经济、会展经济。推动装备制造等传统产业转型升级，发展壮大新能源等新兴产 业，加快布局具身智能等未来产业。打造"城市场景驱动+创新赋能"，建设氢能、第五代移动通信网络 （5G）街区等应用场景。丰富拓展"公园+"场景业态。扩大"吉字号"品牌影响力。推动装配式建筑及智 能建造装备产业化。 要激活城市存量资源潜力。建立城市更新专项规划与国土空间规划有机衔接机制。摸清城市房屋、设 施、土地等资产资源底数。通过年度国土变更调查和城市国土空间监测等工作，综合识别城市存量空 间。结合国土空间规划体检评估，明确城市存量空间盘活优化规划目标和重点，推动分层编制、调整详 细规划。加强规划和土地 ...

Core Insights - The recent implementation plan aims to enhance the adaptability of supply and demand in consumer goods, targeting the formation of three trillion-level consumption sectors and ten hundred-billion-level consumption hotspots by 2027, with the elderly products market being one of the trillion-level sectors [1] - The elderly products market in China has grown from 2.6 trillion yuan in 2014 to 5.4 trillion yuan in 2024, reflecting a compound annual growth rate of 7.3%, indicating a shift in consumption demand from basic needs to quality upgrades among the elderly [1] Group 1: Technological Innovations for the Elderly - The introduction of exoskeleton robots in parks allows elderly individuals to save approximately 30% of their physical energy while hiking, with over 30 units deployed for rental [3] - New AI products, such as intelligent wheelchairs and smart bathing machines, are being developed to meet the specific needs of the elderly, enhancing their quality of life and convenience [4][8] - The acceptance of technology among the elderly is rising, with 68.2% of individuals aged 60-75 using smart devices, indicating a transition from "aging with care" to "aging with enjoyment" [8] Group 2: Elderly Tourism Trends - The elderly tourism market has evolved from traditional sightseeing to a more personalized and quality-focused experience, with over 280 million elderly tourists expected in 2024 [8] - Customized travel products are increasingly being offered to meet the specific preferences of elderly travelers, with a 42% year-on-year growth in cross-province travel orders for the 55-70 age group [16] - Train services for elderly tourists are implementing personalized management and catering to dietary needs, enhancing the overall travel experience [14][16] Group 3: High-Quality Elderly Care Services - High-quality elderly care services are becoming a core support for the silver economy, driven by policy guidance and market demand, focusing on integrated medical and elderly care [17] - The integration of medical insurance across regions is facilitating easier access to healthcare for elderly individuals, with significant reductions in out-of-pocket expenses [20] - The development of elderly care centers is supported by government funding, with a notable increase in the number of facilities and beds available, promoting a higher quality of life for the elderly [24]

Market Overview - The A-share market experienced a rebound last week, with the Shanghai Composite Index closing at 3888.60 points, up 0.34% [5] - The overall market sentiment improved, but the rebound strength was limited due to insufficient incremental capital inflow, with trading volume around 1.6 trillion yuan [2][14] - Key resistance is noted around the 4000-point mark, where historical selling pressure exists, restricting upward movement [14] Short-term Outlook - The market is expected to enter a phase of oscillation and gradual repair, with a warning of potential pullbacks after the rebound [3][15] - The ability to expand trading volume will be crucial for sustaining the rebound; low trading volume may lead to a return to range-bound trading [3][15] - Investors are advised to monitor changes in trading volume, capital flow, and policy developments closely [15] Sector Performance - Technology sectors, particularly artificial intelligence and semiconductor industries, showed strong performance, while other sectors lacked clear support for growth [14] - Consumer stocks, including dairy and food and beverage sectors, have been rising due to government policies aimed at boosting consumption [7][9] - New energy sectors, including batteries and photovoltaic equipment, are expected to continue their rebound, supported by ongoing demand for carbon neutrality [8][9] Investment Strategy - A focus on individual stocks rather than indices is recommended, with strategies such as balanced allocation and high-low trading [3][15] - Investors should target stocks with strong earnings support while avoiding high-valuation stocks lacking performance backing [15] - The report emphasizes the importance of selecting stocks in sectors with robust fundamentals, such as technology growth and cyclical industries [15]

Core Viewpoint - The silver economy is experiencing significant development across various regions in China, driven by policies, market dynamics, and demand, making its advancement over the next five years a logical necessity [1] Historical Logic - The silver economy originated from elderly welfare and care services, evolving into an upgraded version of the aging industry. Initially, China established a welfare system targeting vulnerable elderly groups. In 2000, the Ministry of Civil Affairs issued a notice to expand service areas for elderly care beyond just state-supported groups. Over the years, the elderly care service system has transitioned from a government-led "aging cause" to a multi-entity supplied "aging industry" [1] - With the deepening of population aging, the silver economy's scope is expanding, enriching various sectors such as elderly services, products, technology, and finance. In early 2024, the State Council issued 26 measures to promote the silver economy, indicating a shift towards a more integrated approach with macroeconomic objectives [1] Theoretical Logic - The silver economy is characterized by its dual attributes of market and welfare, making it a long-cycle, stable-return sector. It represents an innovative attempt to construct a welfare economics paradigm with Chinese characteristics, transforming the demographic challenge of aging into a development advantage [2] - As elderly individuals increasingly participate in economic activities, the silver economy is becoming a typical representation of a welfare economics model that is co-built and shared by the entire population [2] Practical Logic - Developing the silver economy is crucial for addressing population aging and achieving modernization in China. It aims to convert elderly consumption and investment into new momentum for modernization, thereby transforming the elderly from passive beneficiaries to active contributors [2] Challenges and Policy Recommendations - The silver economy in China is still in its early stages, facing challenges such as insufficient effective demand, suboptimal market supply, and lack of systematic policy support. To accelerate its development, three strategies are proposed: - Increase government public consumption support to enhance elderly income and consumption capabilities through targeted fiscal measures [3] - Promote "age-friendly" industrial policies to address the lack of commercial scenarios catering to elderly consumers, supporting diverse development across various sectors [3] - Establish a guiding statistical monitoring system for the silver economy to better track industry trends and developments [4]