Rethinking China’s pension reform —The relevance of international experiences

CAI Fang ( 蔡昉 )
Institute of Population and Labor Economics, Chinese Academy of Social Sciences

Editorial Note:

Pension funds remain scarce no matter what institutional design is adopted. China has a
host of unique issues facing its pension system, issues that must be confronted; for instance, the disappearance of
its demographic dividends and legacy costs incurred due to institutional transition. Such features determine that
China’s pension system is merely passable at the present time. In this article, Professor Cai Fang offers new and
incisive perspectives on this issue, such as the potential stimulus for economic growth by ageing people’s desire to
save money for old-age provisions.

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