Raising Retirement Age in China: Legislative Changes Impacting Workers
Thursday, 12 September 2024, 23:52
Raising Retirement Age in China: Effects on Workers
On Friday, China’s legislature sanctioned a decision to raise the retirement age for workers. According to state broadcaster CCTV, this change will be implemented gradually, aiming to adjust to demographic changes affecting the labor market.
Key Details of the Policy Change
- Significant policy adjustment
- China adopts one of the lowest retirement ages among major economies
- Aims to sustain economic growth and manage labor shortages
This legislative shift reflects growing concerns about maintaining an adequate workforce as the population ages.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.