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

TOP PICKS

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
READ FULL ARTICLE
Frank Tang

Frank Tang

Frank Tang joined the SCMP in 2016 after a decade of China economy coverage and government policy analysis.