China population: pension burden in the spotlight as more than a third of provinces have 20 per cent of population aged above 60
- In Liaoning province, 25.7 per cent of the population is aged over 60, while in Shandong the figure is 21.15 per cent
- Analysts say ageing is one of the biggest challenges facing China, with enormous strain likely for the pension system
Citizens aged 60 or over account for more than a fifth of residents in 13 of China’s 31 provincial-level jurisdictions, highlighting growing strain on the country’s struggling pension fund, but possible opportunities for the silver economy.
The alarming figure was recently laid bare in a report by Chinese media company Yicai, and is likely to fuel concern among demographers and the government about the challenges arising from China’s rapidly ageing population.
In Liaoning, 25.7 per cent or 10.94 million people are aged over 60, while Shandong has the largest elderly population with 21.51 million, equivalent to 21.15 per cent of its citizens.
The provinces with the largest proportion of elderly residents are located primarily in northern China, the media report said. Guangdong, the largest province by gross domestic product, has the third lowest portion of its population aged 60 or over at 12.73 per cent, after Tibet and Xinjiang.
Ageing is probably one of the biggest challenges China will face in the next 30 years
Last year, China’s population aged over 60 rose from 264.02 million to 267.36 million, representing 18.9 per cent of the total.
