Read the passage and mark the letter A, B, C or D on your answer sheet to indicate the best answer to each of the following questions from 3...

Read the passage and mark the letter A, B, C or D on your answer sheet to indicate the best answer to each of the following questions from 31 to 40

China seeks a silver lining as it tells companies to target older consumers

In the past few months, Wang Shuyun, a 78-year-old retiree in Beijing, splashed out on an 8,000 yuan ($1,115) nutrition course and spent 1,200 yuan on new Adidas shoes. Drawing on a far-above-average monthly pension of 10,000 yuan, she regularly procures imported milk and prioritizes her personal well-being. [I] “I focus on living a good life for myself, which I consider the most important goal,” said Wang.

She is part of a 300-million-strong retiree population, the core of a “silver economy” that Beijing is now vigorously promoting. [II] The government’s urgency is twofold. China is undergoing a rapid demographic aging, with the number of people aged 60 and above set to hit 400 million by 2035. Concurrently, spending from younger generations has faltered as they confront economic headwinds and job precarity. In contrast, older people often possess comfortable savings from the country’s past decades of growth, affording them greater discretionary spending.

The commercial potential of this group is substantial. According to research firm Euromonitor International, consumer expenditure by households headed by people aged 60 and over is forecast to surge 129% from 2015 to 2025. This growth rate significantly outpaces the 79% rate for the overall population. In response, companies are beginning to cater to this older demographic with new products. A century-old jewelry firm has debuted AI glasses for assistance with reading, tech giant Xiaomi is integrating accessibility functions into its phones, and insurance conglomerate Ping An is expanding home-based senior care services. [III]

Despite the government’s push and promising growth figures, significant constraints temper expectations. A vast pension disparity exists in China. While former civil servants like Wang receive generous provisions, the average urban retiree draws a much smaller monthly pension of 3,000 yuan. [IV] Pensions for those in rural areas can be as low as 200 yuan. This financial reality is compounded by a cultural tendency towards frugality, as many seniors who experienced leaner times maintain cautious spending habits. Economists argue that this spending is insufficient to counteract deflationary pressures, and thus, while China’s silver economy represents a burgeoning and lucrative market, its capacity to act as a primary engine for national growth is fundamentally limited.

Question 31: According to paragraph 1, the spending habits of the 78-year-old retiree appear to stem from ______.

A. her far-above-average monthly pension of 10,000 yuan
B. a personal objective centered on self-care and quality of life
C. a specific focus on imported milk and nutrition courses
D. her preference for spending on high-end consumer brands