As we've just talked about, low birth rate is also partly to blame for the rapidly aging society. And the CPC has announced China will raise the retirement age to fill the gap between shrinking labor force and ageing population.

According to figures by the United Nations, one-child-policy has caused the number of working-aged people in China— meaning those aged 15 to 64— to dramatically shrink.

According to the United Nations, from 2010 to 2030, China’s labor force is expected to lose 67 million workers. And the elderly population is projected to soar, from 110 million in 2010 to 210 million in 2030.

By 2050, seniors will account for an estimated one-quarter of the population. All these trends are intensifying the urgency for reform.