Census data released late last month have sparked a public debate on whether demographic factors would hinder China's economic development. The fear has gained ground because China's population is aging faster than expected, says Du Peng, director of the Institute of Gerontology, affiliated to Renmin University of China.

According to the data, there are 177.6 million people above the age of 60 in China, or 13.26 percent of the total population - up 2.93 percentage points from the previous census a decade ago. It also means that China has more senior citizens than in all the European countries put together. China's aged population and its proportion to the total population both are higher than expected.

From 1990 to 2000, the number of people aged above 60 grew by 33.15 million, or 3.315 million a year. But between 2000 and 2010, the growth rate increased to 4.753 million a year. And another 80 million people are expected to enter their golden age by 2015.