China's elderly exceeds 200 million

China's population of 60 years of age and above has reached 212 million, the country with the most ageing population in the world, a media report said on Monday.

The report was released by the Insurance Association of China, Institute for Social Security Research and three other institutes on Sunday, the People's Daily reported.

Many experts say that due to the severe ageing situation, China needs to build a multilevel elderly security system by improving its social security system and promoting supplementary insurances to guarantee that all the elderly will be looked after properly.