Storyline: AI-powered innovations unlock new potential in China's silver economy [Voice_over] Chinese officials released an action plan recently outlining strategies to better align the supply and demand for consumer goods- including those in the elderly care sector. The market size of China's elderly products sector has grown at a compound rate of more than 7 percent annually since 2014, topping 763 billion U.S. dollars last year. As a main economic pillar for the silver economy, gadgets like portable bathing devices and AI serviced assistants are fueling the market to give seniors better quality of life. In east China’s Hangzhou Banshan National Forest Park, seniors can rent exoskeleton devices to assist while trekking uphill. Meanwhile, engineers at a service robot company in Hangzhou are finishing a smart wheelchair with depth-sensing cameras, a robotic arm, and advanced AI algorithms, that allow users to navigate simply by saying their destination. [Sound_bite] Guo Hangsheng, staff member, service robot company: "We have gone through 11 rounds of iterative upgrades in total. We have also added a screen to enable object grabbing through touch control." [Voice_over] Efforts are being made at educational institutions as well, to develop the right kinds of elderly care products. According to experts at the Institute of Public Policy at the Zhejiang Academy of Social Sciences, new tech for seniors must offer real solutions. [Sound_bite] Zhang Xiumei, deputy director, Institute of Public Policy, Zhejiang Academy of Social Sciences: "Technological development must truly integrate with the real needs of the elderly and start from their pain points. Our products and services can be technologically advanced, but must be easily operated, so that seniors can easily use them." [Voice_over] Acceptance of smart devices among China's elderly is rising fast with data showing that more than 68 percent of people aged 60 to 75 say they use smart devices regularly. [Restrictions: No access Chinese mainland]