China's basic old-age insurance covers over 1.07 billion people: report

BEIJING, July 25 (Xinhua) -- By the end of 2024, more than 1.07 billion people enjoyed coverage under China's basic old-age insurance, an increase of 6.39 million from the previous year, latest statistics have shown.

According to a report jointly released by the Ministry of Civil Affairs and the Office of the China National Committee on Ageing, the numbers of participants in China's basic old-age insurance schemes in terms of urban employees and enterprise employees, respectively, also rose compared to the end of the previous year.

The report said that by the end of 2024, the population aged 60 and above had reached 310.3 million in China -- accounting for 22 percent of the country's total population. Those aged 65 and older had exceeded 220.2 million, representing 15.6 percent of the total population.

Average life expectancy in China, meanwhile, had reached 79 years at the end of last year.

China's elderly care services are also improving, the report said. By the conclusion of 2024, there were about 406,000 elderly care institutions and facilities of various types across the country, offering more than 7.99 million nursing beds.