Pension Reform
   2013-01-01 18:58:54    CRIENGLISH.com      Web Editor: Guo Jing

 

How to care for one's old age is now a topic not only for retirees and middle aged people, it is now a concern for almost everyone in society. During the past year, there had been report says that China's pension shortfall is expected to reach 18.3 trillion yuan ($2.87 trillion) by 2013. Not helping ease any concern. The report was written by the Bank of China's research group headed by its chief economist Cao Yuanzheng, and Fudan University's research group headed by Deutsche Bank's economist Ma Jun.

Is it accurate? Plus where did the shortfall come from?

Tang Jun, researcher of Chinese Academy of Social Sciences, says on December 23, 2012 that China’s pension system must be reformed. [Photo: Southern Metropolis Daily]

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