China’s pension fund, which already relies on government subsidies, held a reserve of 4.8 trillion (US$677 billion) at the end of 2018. The gap between contributions and outlays could reach 11 trillion yuan (US$1.5 billion) by 2050. Photo: Xinhua

China’s workforce saving more for retirement amid concerns about state pension, survey finds

  • Half of Chinese have begun saving for retirement, up from 46 per cent in 2018, survey from Fidelity International and Ant Financial shows
  • Results come amid growing concern in China about the financial stability of the state pension fund due to the country’s ageing population
Topic |   China economy

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China’s pension fund, which already relies on government subsidies, held a reserve of 4.8 trillion (US$677 billion) at the end of 2018. The gap between contributions and outlays could reach 11 trillion yuan (US$1.5 billion) by 2050. Photo: Xinhua
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In 2018, China reported a growth rate of 6.6 per cent with a nominal GDP size of 90 trillion yuan (US$13 trillion). Photo: AFP

China can handle much slower GDP growth rate and still create enough jobs, government economists say

  • The headline gross domestic product (GDP) growth rate slowed to 6.2 per cent in the second quarter of 2019, the lowest figure since records began in March 1992
  • Risks are growing that it could slip below 6.0 per cent next year which would fall outside of the government’s target range of between 6 and 6.5 per cent for 2019
Topic |   China economy

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In 2018, China reported a growth rate of 6.6 per cent with a nominal GDP size of 90 trillion yuan (US$13 trillion). Photo: AFP
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