Introduction
On 16 October 2025, the International Longevity Centre – UK (ILC) convened a round table at Phoenix Group in London, chaired by ILC Trustee Tim Fassam, to explore “Supporting a Thriving Longevity Economy in China.”
The event brought together experts from academia, business, and policy to discuss demographic change and innovation opportunities. It formed part of ILC’s collaborative project with the Foreign, Commonwealth & Development Office (FCDO) in Beijing, with support from Pfizer.
ILC’s Early Findings
The session opened with a presentation by Tanya Singh, Senior Research Fellow at ILC, who shared early findings from ongoing research into the economic and innovation opportunities arising from China’s ageing population.
Key highlights included:
- The Big Picture: China is ageing faster than almost any country in history. Already, one in five people are over 60. The working-age population peaked in 2011, creating a supply-side shift (fewer workers, more reliance on automation, AI, and innovation) and a demand-side shift (older consumers driving healthcare, finance, housing, and leisure).
- Labour Market Pressures: A four-fold rise in wages over a decade, youth unemployment above 20%, and shortages in skilled labour have created mismatches. Policy responses include industrial upgrading through Made in China 2025, as well as pension and adult learning reforms to extend working lives.
- Consumption Landscape: Health spending per capita is rising sharply. Growth is projected across ageing-related industries such as digital health, long-term care insurance, assistive robotics, dietary supplements, and home healthcare.
- UK–China Opportunity Matrix: The study identifies sectors where Chinese demand intersects with UK strengths. Tier 1 areas include pharmaceuticals and finance; Tier 2 includes telecare, retrofit housing, and professional training.
- Strategic Points: The UK’s advantage lies less in cost and more in credibility, system-level expertise, and institutional presence. Export opportunities are strongest when paired with knowledge and systems transfer.
These findings framed the round table discussion, highlighting both the urgency of demographic change and the potential for innovation and partnership.
A Collaborative Exchange
The discussion was enriched by a wide range of participants, including representatives from King’s College London, University of Surrey, Royal College of Art, RUSI, TheCityUK, Asia House, HelpAge International, Pfizer, MSD, Prudential, L&G, and the Department of Health and Social Care.
Colleagues also joined in online from the Oxford Institute of Population Ageing and FCDO Beijing, ensuring a broad international perspective.
Importantly, participants emphasised that collaboration is two-way: while China’s scale and rapid innovation in housing and technology offer valuable lessons for the UK, the UK’s regulatory expertise and focus on consistent quality of care remain global strengths. There was also recognition of the need to view older people not only as consumers, but also as creators, entrepreneurs, and contributors to society.
A Global Challenge
The discussions underlined how China’s ageing is both a domestic challenge and a global issue. Many of the questions raised — how to ensure sustainable pensions, deliver integrated care, and foster healthy and active ageing — resonate across societies.
The UK’s experience with community-based healthcare, preventative health policy, and ageing innovation offers lessons of international relevance. Equally, China’s rapid experimentation with new technologies and large-scale ageing markets provides insights valuable to the global community.
Conclusion
Population ageing is reshaping societies at unprecedented speed. In China, the scale of change is immense, but the themes — from workforce pressures to consumer innovation — are relevant far beyond its borders.
The ILC’s work, supported by FCDO and Pfizer, provides invaluable analysis to guide dialogue and collaboration. Events such as this round table create the space for experts from different fields to come together, compare perspectives, and explore practical responses to one of the defining challenges of our time.
This round table reflected the importance of ILC’s research and convening role in shaping international dialogue on ageing and the longevity economy. EFEC was honoured to be invited to attend as part of this collaborative exchange.
Disclaimer: The views expressed here reflect EFEC’s learning from the round table. It does not represent the formal positions of ILC, FCDO, Pfizer, or other participants.