Research on How the Digital Economy Contributes to Achieving A High-Level and Balanced Development of the Elderly Care Service Industry

Xia Jiechang () and Chen Ting ()
Additional contact information
Xia Jiechang: Business School, University of Chinese Academy of Social Sciences Beijing China
Chen Ting: Research Institute of E-commerce and New Consumption, Zhejiang Finance College. Zhejiang China

China Finance and Economic Review, 2024, vol. 13, issue 3, 113-129

Abstract: China’s aging population has gained significant attention. Population aging implies that the demand for elderly care services will be on the rise. However, China’s aging exhibits a notable characteristic of getting old prior to achieving affluence, which directly constrains the enhancement of the level of elderly care services. The Communist Party of China and the government attach considerable importance to the issue of population aging and pensions. The Third Plenary Session of the 20th CPC Central Committee adopted the Decision of the CPC Central Committee on Further Comprehensively Deepening Reform and Promoting Chinese-Style Modernization, emphasizing that “we should actively respond to population aging and improve the development of elderly care and elderly care industry policy mechanisms.” Regarding the supply of pension services, due to the professional and long-term nature of pension services, the supply cost remains high. The contradiction between the low level of demand and the high cost of supply might lead to the “low-level equilibrium trap” of the elderly service industry. The digital economy has achieved remarkable effects in promoting the elderly care service industry. It has played a vital role in optimizing the allocation of elderly care resources, reducing the cost of elderly care services, and creating a superior elderly care ecosystem. In this context, it holds considerable academic value and practical significance to study the impact of the digital economy on the development of pension service industry, to analyze the digital divide and bridge the path for the development of the pension service industry, and to explore the countermeasures and ideas of the digital economy to facilitate the high-level, balanced, and high-quality development of the pension service industry.

Keywords: digital economy; elderly care service industry; high-level equilibrium (search for similar items in EconPapers)
Date: 2024
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1515/cfer-2024-0018 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bpj:cferev:v:13:y:2024:i:3:p:113-129:n:1006

DOI: 10.1515/cfer-2024-0018

Access Statistics for this article

China Finance and Economic Review is currently edited by He Dexu

More articles in China Finance and Economic Review from De Gruyter
Bibliographic data for series maintained by Peter Golla ().