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China will have a population of 487 million aged 60 or above by around 2050, according to the Office of the National Working Commission on Aging. In recent years, China has stepped up efforts in advancing diversified elderly care services based on communities and families.
China's A-share market has seen sharp corrections this year, with the benchmark Shanghai Composite Index losing about 20 percent compared with the beginning of the year.
China's State-owned construction firm CITIC is the lead contractor on the project which, according to ABP, will create 30,000 jobs during the next decade.
China's announcement to suspend the agreements came about a week after it suspended similar agreements between Hong Kong and Canada, Australia and the United Kingdom.
China will help the AIIB to operate in accordance with high international standards and gradually invest in the bank. "We think investment in the AIIB is very worthwhile," he added.
来源：资阳报