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China Will Be Old before It Becomes Rich

Economic Information, a publication under Xinhua News Agency, published an article on September 16, 2011, titled “Before China Gets Rich, It Will Be Overwhelmed with Old People.” Out of 23 provinces and 5 autonomous regions, 26 are considered to be aging societies, which means that senior citizens who are 65 years old or older comprise over 7% of the population.

According to China’s 6th National Population Census of 2010, 119 million people are 65 years old or over, which constitutes 8.87% of the total population of China; 177.65 million people are 60 years old or over, which is 13.26% of the total population. It is estimated that, within the next 5 years, China’s elderly population will increase to 221 million; that is, 16% of China’s population will be old people.

Source: Economic Information, September 16, 2011