Beijing, December 14, 2024 – The Europe Today: China has unveiled a comprehensive set of measures aimed at strengthening the country’s pension system and fostering the high-quality development of the silver economy. On Friday, an official document jointly released by the People’s Bank of China and eight other authorities outlined 16 key initiatives designed to enhance financial services, improve resources for rural areas, and support individuals in financial planning and retirement preparation.
Among the measures, the government will expand financing channels for sectors related to the silver economy, ensuring stronger credit support and increased direct financing. The country is also focusing on enhancing pension product design and investment management, cracking down on illegal financial activities, and boosting financial literacy education and consumer protection for the elderly.
The document outlines a vision for building a supportive financial system for pension services and the silver economy by 2028. These efforts reflect China’s commitment to addressing the challenges posed by its aging population.
In addition, the government announced on Thursday the nationwide expansion of a private pension scheme, previously limited to 36 pilot cities and regions, to complement the existing national pension system and offer enhanced support for the aging population.
These measures signify China’s proactive approach to securing the financial well-being of its elderly citizens and ensuring sustainable pension systems for the future.
