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By 2050, one in six people-16 percent of the world's people-will be over age 65, up from the current one in 11 in 2019, or 9 percent. The number of persons aged 80 years or over is projected to triple from 143 million in 2019 to 426 million by 2050.

But the expansion has also brought issues such as high leverage and shadow banking, which the new rules tried to rein in.

But the students get an authentic US-style experience. All classes in Wenzhou are conducted in English, the majority led by more than 100 foreign teachers.

By 2025 the plant will produce up to 15 models on the platform.

But the company hopes that over the next five years, the situation will reverse, with Chinese citizens consuming up to 90 percent of the total, said Xia Yongtao, deputy general manager of Kaluga Queen, who admitted it might be "an unreachable dream".