China's National People's Congress considers raising retirement age to address aging population and workforce issues.

China's National People's Congress is considering a gradual increase in the statutory retirement age, currently 60 for men and 50-55 for women, to address the challenges posed by a rapidly aging population and a shrinking workforce. This move aims to optimize human resource allocation and alleviate pension budget pressures. Concerns about its impact on employment and the necessity for older workers to remain in the labor force longer have been raised amidst discussions on the proposal.

September 10, 2024
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