China Expected to Have 300 Million Seniors by 2025

By Ryan Gandolfo, October 26, 2020

0 0

China is getting older. The Ministry of Civil Affairs predicts that there may be as many as 300 million seniors living in the country by 2025.

Last Friday, a report released by the ministry said that 12.57% of China’s population were aged 65 or above at the end of 2019. 

According to China’s National Bureau of Statistics, the dependency ratio of the elderly population has risen to 17.8% over the past three decades. The figure indicates that each senior resident needs to be supported by six people.

In a Global Times article published Sunday, several consequences of an aging population were highlighted. For starters, China’s massive pension system will take a hit as the number of people drawing from the account will exceed those paying into the system. 

Labor costs will also rise with a shrinking total supply of labor, while the increase in the aging population will cause a change in consumption structure, according to a population report by Tsinghua University’s Evergrande Research Institute.

Ren Zeping, dean of the Evergrande Research Institute, suggests the government should rollout a three-child policy. (The two-child policy was implemented at the start of 2016.) He also noted that the availability of childcare should increase and protection of women’s employment rights and interests needs to improve to encourage having more children.

The government, which is gearing up for its 14th Five-Year Plan – a development roadmap for the entire country, is expected to issue new policies to address the aging workforce. 

Experts have floated policy tools such as income tax credits and financial subsidies that would cover pregnancy care and child benefit payments.

[Cover image via Pixabay]

more news

This Day in History: Nelson Mandela's Changing Relationship with China

South African leader's close links with the Middle Kingdom.

China, Here Are Your 2021 Public Holidays

Will the borders open for 2021? Regardless, it's time to start planning your next adventure.

China Publishes First Robotaxi Passenger Survey Report

Nearly 30% of the surveyed WeRide robotaxi passengers are loyal riders who use the service at least once a week.

China-Australia Tensions Flare Up After Graphic Tweet

It's not been a great year for relations between these two nations...

This Day in History: China’s First KFC Opens by Tiananmen Square

On November 12, 1987, KFC made its debut in China near Qianmen in Beijing.

China Tests Millions for COVID-19 after New Cases Discovered

Chinese health authorities have ramped up their COVID-19 prevention measures

China's Yuan Appreciates to Two-Year High Against the US Dollar

It's been quite a rollercoaster for the yuan this year, which was 7.17 against the US dollar on May 27.

Journey to Cretaceous China in New Episode of China Untold Podcast

For this episode of China Untold, host Matt Bossons introduces you to Qianzhousaurus and the people studying it.

0 User Comments

In Case You Missed It…

We're on WeChat!

Scan our QR Code at right or follow us at thatsonline for events, guides, giveaways and much more!

7 Days in China With

Weekly updates to your email inbox every Wednesday


Download previous issues

Never miss an issue of That's Magazines!

Visit the archives