China plans to increase its social security fund to meet the needs of an aging population.
The fund, currently worth around 370 billion euros, will be made “bigger and stronger”, the fund’s chairman Ding Xuedong described in the Communist Party newspaper Study Times on Monday.
During the next decade, about 300 million Chinese will retire. According to Ding, the purpose of the fund is “to act as a strategic reserve at the peak of aging”.
Source: Reuters