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��Home>>China Observer
Aging society to cost Chinese dearly
www.chinanews.cn 2007-04-24 09:36:06
Chinanews, Haikou, April 24 - Judged from the data from the National
Population and Family Planning Commission of China and the UN, and the
retirement age of 60 in China, the GDP spent on supporting China's elders
will be 280% of the current level in 2050, according to Gao Xiqing,
deputy director of National Council for Social Security Fund.
Gao believes that China will face a faster and more penetrating aging
process in the near future. In 2000, the percentage of population above
65 years old was of the same level in the world, and about 50% of the
figure in developed countries. However, by 2050, China will approach the
developed countries in this aspect.
"Nowadays, we are building a nationwide partly accumulated social
insurance system based on the monthly fees paid by urban employees, and
China has set up a national social security fund already, its market
value being 320 billion yuan, but still far from enough," said Gao.
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