Ageing population brings challenges

China should take its ageing population into account when introducing its national strategy for industrial reconstruction, said Hu Xiaoyi, vice-minister of human resources and social security, on Monday.

"Young people are now the leading consumption force, but given the accelerated ageing process, how will that trend influence the consumption structure? There will be many business opportunities," Hu said on the sidelines of the annual session of the 12th National Committee of the Chinese People's Political Consultative Conference.

"China will face the challenges caused by population ageing in the next decades. Some people even suggested that the central government should treat population ageing as a national policy. I'm not sure whether it is necessary to do so, but I definitely believe that we should give ageing a more important position in the government's agenda," Hu said.

China's population aged 60 or above has reached 194 million, or 14.3 percent of its total population, according to data from the China National Committee on Ageing.