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China benefits as well. Trade between China and Latin America rose by 19 percent in 2019 to 7.4 billion, according to databy financial information services provider Fitch Solutions.

China conducts a national population census every 10 years, with the last census in the world's most populous country finding that its population had increased to 1.37 billion.

China has also become Spain's largest non-EU trading partner. Bilateral trade volumes rose from million in 1973 to a record .9 billion in 2017.

China currently has about 250 million people aged over 60. Before they can apply for elderly care services, they need to undergo various tests－including evaluations of their cognitive abilities and emotional behavior, as well as an assessment of their daily activities－to receive specific types of nursing care, according to Jiang.

China has been stepping up efforts to improve financing efficiency for the real economy, with targeted measures to expand financing channels and reduce financing costs for small and micro firms.