Gao acknowledged that the demographic trends could hinder the economy long-term, noting, "The elderly increasingly stand out for their healthier finances and resilience," contrasting with the youth.
Commenting on consumption patterns, Gao said, "The younger a province's population is, the slower its consumption growth has been," highlighting troubling trends in younger demographics.
At the investor conference, Gao starkly described society as being "full of vibrant old people, lifeless young people and despairing middle-aged people," reflecting deep economic concerns.
The article outlines that despite a government push to stimulate spending, "its growth is still far below pre-pandemic levels," indicating lingering economic challenges.
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