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China stands at a pivotal demographic crossroads. By 2035, over 400 million people in the country will be aged 60 or older, accounting for a substantial segment of the 1.4 billion population. This figure surpasses the combined populations of the United States and Canada, leading to a forecasted shortfall in pension funds when these individuals retire. The urgency of the situation prompted the Chinese government to raise the retirement age for the first time in over 40 years as of January 1, signaling a desperate move to shore up the pension system.