Chinese president Xi Jinping has said that the country should endeavor to increase its investment in providing care for the elderly. Speaking at a meeting of the Political Bureau of the Communist Party' Central Committee, Jinping stated that there is a massive gap between elderly people's expectations for a happy life in their old age and reality.

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China is home to the world's largest number of senior citizens.

"Meeting the various needs of the huge elderly population and properly solving the social problems that an aging population brings are matters relating to the overall development of the country and welfare of the people," Xi said. China's aging population has been cited as one of the most important factors behind pessimistic growth outlook in the medium term.

China has taken many steps to curb this trend. The country recently relaxed its one-child policy. As a result, the country's population is expected to reach 1.45 billion population by 2050. One third of that population is expected to be above the age of 60 years, putting pressure on shrinking working population to sustain them.

Xi emphasized that the country should adhere to the traditional virtues of caring and respecting for its elderly. He also said that the older people should play an active role in resolving social conflicts and in disseminating moral education. China's growing aging population also offers a huge market for the elderly care industry.

Currently, 16 percent of China's population consists of people aged 60 years or above. There are over 220 million people in China under this category. President Xi also said that scientific studies should be undertaken to ensure the welfare of elderly population.

TagsXi Jinping, china