As the cost of living in China's major cities continues to rise, an increasing number of elderly individuals are choosing to leave first-tier cities such as Beijing, Shanghai, Guangzhou, and Shenzhen in search of more affordable retirement options in nearby or even more distant smaller cities.
Chinese media has dubbed this retirement strategy "downscaling retirement." This migration is not only driven by financial pressures but also serves as a coping mechanism in an aging society, with downscaling retirement gradually becoming a common choice for Chinese seniors seeking a balance between material comfort and mental well-being.
In recent years, there has been a noticeable trend of elderly residents from Hong Kong moving northward for retirement. This phenomenon first emerged in cities like Guangzhou and Shenzhen in the Guangdong-Hong Kong-Macao Greater Bay Area and has now extended to major cities across the Pearl River Delta. Compared to Hong Kong's high living costs, the prices and housing affordability in mainland China present a significant allure for many Hong Kong seniors.
Reports indicate that public nursing home beds in Hong Kong require an 8 to 10 month waitlist, while private facilities are prohibitively expensive, costing between 15,000 and 20,000 Hong Kong dollars per month, with basic facilities and limited care options. In contrast, comparable or even superior conditions in mainland China can be obtained for only a third or a quarter of that cost. For example, a nursing home in Zhaoqing, Guangdong, offers a 17-square-meter single room for just 5,100 yuan per month, complete with comprehensive care and living services, as well as access to parks and gyms.
The Hong Kong government is actively supporting this trend through policies like the "Guangdong Plan" and "Fujian Plan," which provide monthly allowances and subsidies for eligible Hong Kong seniors choosing to relocate to the mainland, nearly covering all their retirement expenses there. Statistics show that by the end of 2022, over 90,000 Hong Kong seniors had chosen the mainland as their retirement residence. For these elderly individuals, moving northward means not only financial savings but also a significant enhancement in quality of life.
A similar trend is emerging in first-tier cities in mainland China, such as Beijing and Shanghai. In recent years, more seniors from these cities are opting to retire in surrounding areas like Yanjiao in Hebei Province or certain cities in Zhejiang and Jiangsu. Compared to the high housing prices and living costs in the suburbs of Beijing and Shanghai, these surrounding cities offer beautiful environments, convenient transportation, and well-equipped retirement facilities, all at significantly lower prices. In Yanjiao, a well-known nursing home charges monthly fees ranging from 8,000 to 10,000 yuan. While this is not a low cost, it remains highly attractive compared to the prices in Beijing and Shanghai. Reports indicate that of the 5,000 seniors residing in this facility, 95% are from Beijing.
In contrast to the "intercity retirement" of seniors from Beijing, Shanghai, and Hong Kong, some younger individuals are already beginning to plan for their own later years. Guangxi has emerged as a popular retirement destination for them. Located in southwestern China, Guangxi is attracting increasing attention for its low living costs and pleasant natural environment.
In Guangxi, 10 yuan can buy 100 dragon fruits, while in Shanghai, that amount would only purchase half a fruit. Guangxi boasts a 97.9% rate of good air quality days throughout the year, making it an ideal escape for young professionals seeking to relax away from the pressures of city life.
However, despite Guangxi's reputation as a "longevity region," its medical conditions cannot be overlooked. Data indicates that Guangxi's medical resources lag significantly behind the national average, particularly when compared to first-tier cities, where there is a substantial gap in the number of hospital beds and physicians.
The emergence of downscaling retirement reflects a microcosm of the current challenges facing Chinese society amid rapid aging. With the population aged 60 and over continuing to grow, major cities in China are confronting unprecedented pressure regarding retirement support. By 2035, it is projected that the number of seniors over 60 will exceed 400 million, accounting for nearly one-third of the total population. This vast demographic will pose significant social and economic challenges, making the rational allocation of resources and the optimization of retirement models critical issues for China's future.