According to the Municipal Finance Bureau, with the agreement of the State Council, theNDRC (National Development and Reform Commission) and Ministry of Finance recently approved ADB loans of pension integrated services demonstration projectin Yichang city, Hubei province.The project is the only pension demonstration pilot project that is supported by the ADB loan and its main construction content covers improving the social infrastructures and service systems for aged, with a total investment of 1.8 billion yuan, of which ADB loans $150 million. The implementation of the project will further promote Yichang’s pension industry;accelerate the formation of pension and health care new consumer industries aiming atbuilding Yichang the National PensionDemonstration City.

Aging population in Yichang is becoming more and more severe.The data of the Sixth Population Census shows that Yichang’s population olderthan 60 has reached 650,000, accounting for 16.1% of the total population, far higher than the 12.4% of the nation\'s aging population and 13.9% ofHubei. In 2014, Yichang actively introduced assistance project onthe ADBpension industry research technology,the project funding provided by ADBat no charge to public recruit national and international experts tocome to Yichang to think of ideas for Yichang pension industry development. By 2015, with the ADB TA achievements, our city declared ADB loan on demonstration projects of Yichang social pension integrated services.

Yichanghas been attaching great importance to win the support of international financial organizations. In past three years, the accumulative international loanable funds account for more than 50% of Hubei, ranking first in the province. These projects are the perfect combination of attracting investment and talent, which have greatly promoted the social and economical development of Yichang.(Reporter: Xiang Tengjiao, Song Xiaoxiao)