“Productive engagement in later life” serves as a proactive approach to addressing the challenges of an aging population in China through strategies deeply rooted in the local context. Shanghai has a large population of the early-old aged who are well-educated and in good health. This group represents a considerable potential for the development of human resources. The population aged 60-69 has swelled from 1,151,000 in 1990 to 3,414,000 in 2020, accounting for more than 60% of elderly people. Back in 1990, only 9.6% of people aged 60-64 had received a high school education or beyond, but by 2020, this figure had soared to more than 50%. Both the life expectancy and healthy life expectancy of the elderly in Shanghai are in the leading position in the country. The remaining life expectancy of 60-year-old men has increased from 21.35 years in 1990 to 24.71 years in 2020, and the healthy life expectancy has increased from 18.55 years to 21.61 years in the meantime. However, the employment rate among the elderly has dropped from 5.45% to just 3.46%, with 296,000 working older adults in 1990 and 197,000 in 2020. Additionally, the range of their social engagement has been somewhat limited. Although the idea of “productive engagement in later life” is deeply rooted, it is still facing some difficulties in terms of social cognition, rights protection, job opportunities, and so on. Multiple measures should be taken to promote the deepening and practice of this concept. The promotion of the idea “productive engagement in later life” in the wide acceptance of the society, the establishment of a sound legal protection system, and the improvement of the diversity of participation forms constitute effective measures to activate and develop senior talent resources, and then create silver economic growth.