Global Times (21.04.2022) China will soon start a new era of "private pensions" with the imminent implementation of a relevant mechanism, according to a report by the Shanghai Securities News published on Wednesday. The new mechanism, which is characterized by policy support from the government, voluntary participation and market-oriented operations, will be an important transformation of the current pension system that has a basic pension insurance and a corporate pension.
World Economic Forum (17.05.2022) China is a rapidly graying country with those aged 60 or above reaching 267 million or 18.9% of the total population, and this may rise to one-third of the population before 2050. Welfare reform must work in tandem with social policy so as to make active aging an integral part of economic growth, linking health to wealth and common prosperity. Healthcare, labour reskilling and gender parity are three areas of focus for domestic policy to solve the challenges of China’s aging population.
Xinhua (21.02.2022) China's State Council has released a plan for the development of the country's elderly care services system during the 14th Five-Year Plan period (2021-2025), in its latest step to implement a national strategy to address population aging. The plan specifies major goals and tasks for the five-year period, including expanding the supply of elderly care services, improving the health support mechanism for the elderly, and advancing the innovative and integrated development of service models.
International Policy Centre for Inclusive Growth (IPC-IG) (10.02.2022) The COVID-19 epidemic broke out in Wuhan, capital of the Hubei Province in China in early 2020. This One Pager discusses factors that enabled the country to support affected groups in a timely manner and how this experience could inform social protection expansion efforts elsewhere.
Asian Development Bank (August 2021) The three-tiered elderly system in the country consists of home-based care as the core support, community-based care as necessary support, and residential care as supplementary support. The main policies and progress of the system are explained, including insights on how the government encourages private sector involvement. A key recommendation of this paper is the need for better integration of residential and home- and community-based care as part of the elderly care system.
Considering that the risk of the pandemic still exists, some enterprises may be under great financial pressure, the policy of phased reduction of premium rates of unemployment insurance and work injury insurance will be extended for another year until 30 April 2022.