Abstract:  China is faced with both severe challenges from population aging and historical opportunities of developing old-age economy and creating new surges of consumption. The development of oldage economy should stick to the importance of life value, follow the conception the broad virtual economy and attach greater importance to tapping and meeting the seniors' psychological needs so as to make them a happy life and help them to fulfill their self value continuingly. In view of this, in order to accelerate the development of China′s oldage economy, efforts should be made to constantly improve policies and laws, to vigorously develop cultural and entertainment industries, to employ financial tools, to actively push forward nursing manors, to develop service industry for the elderly investment and to encourage the reemployment of the seniors.

Key words: population aging, oldage economy, broad virtual economy, psychological needs