By IE&M Research
China not only has a lot of people, it also has a lot of old people. And the figure is only set to grow: the pace of population aging is much faster in China than other countries across the developed and developing world. In 2020, China’s elderly population is expected to reach 170 million, doubling in size compared to the 84 million at the turn of the century. In contrast, it will take the world (excluding China) closer to 30 years to double its population of elders. On the basis of data as of July 29, 2015 UN population estimates, there are a whopping 138 million elderly Chinese people – a number that’s greater than the combined elderly populations of Italy, Germany, Japan, France, and the US.
China’s elderly population alone is the 10th largest population – just a teeny bit smaller than Russia’s entire population, which is around 143.5 million. US Census Bureau also has touched on some comparisons: In 2015, the number of older people in China (136.9 million) exceeded Japan’s total population (126.9 million). And by 2050, China’s projected older population (348.8 million) will be approximately equal to the combined total projected populations of Japan, Egypt, Germany, and Australia. At the same time, China’s working-age population – people 15 to 59 has started shrinking.