The proportion of people in China over the age of 60 will increase from its current 16.1% to 25.2% by 2030, causing concern given that the proportion of working age people, aged 16-59, will drop by almost 10% percent in the same time frame. Since 2012, the labor force has shrunk by 26 million from its peak, leading to labor shortages even with a slowing economy and layoffs. Chinese officials are concerned about having a shortfall in pension funds to support the growing numbers of retirees. Part of the reason for a shrinking workforce comes from China’s “one child” policy, resulting in a decrease of child-bearing women; some families in rural areas would selectively abort in order to have a male child. The Chinese government has discontinued its one-child policy, allowing families to have two children in order to spur economic growth. It also plans to raise the retirement age.
See "China’s Working Age Population To ‘Fall Sharply’ By 2030, Adding To Concerns About Economic Growth And Aging Society", Duncan Hewitt, International Business Times, March 30, 2016