The city now has 2.45 million retirees, making up 15 percent of the population, which is close to the level of developed countries.

Latest figures provided by the municipal bureau of statistics show that people above the age of 65 now account for 11.5 percent of the city's population, compared to the national average of seven percent.

There are 1.67 million families with members above the age of 60. Of these elderly people 31.8 percent live by themselves, and 13 percent are single.

The bureau predicts that the city's aging population will peak around 2010, which could have a serious impact on its economic and social development.

To address the challenge, the city has been updating its pension system, which now covers not only 2.37 million urban retirees, but also 1.23 million elderly farmers.

It has also set up four special hospitals and 47 clinics for the elderly. Nearly 30,000 beds are now available at the more than 400 old people's homes across the city.

Shanghai Vice-Mayor Feng Guoqin announced recently that the city will allocate 80 percent of the funds raised from the issue of charity lotteries to the construction of more homes and other facilities for the elderly.

By 2005, there will be 50,000 beds available at homes for the elderly, while fitness and entertainment facilities will be available in almost all the communities, Feng says.

(Xinhua News Agency November 12, 2001