Number of citizens aged over 60 in China is expected to expand by an average of 10 million per year over the next decade, adding to concerns over the state pension fund, elderly care facilities and medical services.
Citizens aged 60 or over account for more than a fifth of residents in 13 of China’s 31 provincial-level jurisdictions, highlighting the challenges ahead for the country’s pension system.
Compared to developed countries grappling with an ageing population, China is not equipped with a comprehensive welfare system. Many older people are finding they cannot afford to retire.