China Adjusts to Global Trends: New Legislation Increases Retirement Age to Compete with Major Economies
Beijing, China — In a significant move aimed at aligning with the demographic and economic shifts in the country, China’s legislature has approved a law to incrementally raise the retirement age. This change attempts to address the challenges posed by an aging population and the economic demands of sustaining growth. Currently, China boasts one of the lowest retirement ages among the world’s major economies, with men retiring at 60 and women at 55 or even earlier depending on their occupation. This early retirement age, established decades ago, is increasingly seen as unsustainable given today’s longer … Read more