National characteristics of pension insurance system in China
https://doi.org/10.35854/1998-1627-2023-7-772-782
Abstract
Aim. To determine the directions of development of the pension insurance system in China, taking into account the peculiarities of its creation and development in the conditions of modern demographic trends.
Tasks. To study the impact of population ageing on the Chinese economy; to analyse the pension insurance system in China; to determine the prospects and recommendations for improving the sustainability of pension insurance in China.
Methods. The study is based on the use of methods of scientific knowledge, analysis and synthesis, comparison, application of systemic and institutional approaches to assess the pension insurance system in China.
Results. The paper studies the formation and development of the pension system of the People’s Republic of China. The article analyses the dynamics of economic indicators on pension and insurance markets of China, presents the characteristic of demographic situation. The assessment of the sustainability of social security in China is presented.
Conclusions. Basic pension insurance dominates the Chinese pension system. Accelerating population ageing is a major challenge for the system. At the same time, corporate and individual insurance have a certain potential for growth, as a result, it is the dynamics of their development that will determine the vector of development of the entire pension system of China.
Keywords
population ageing,
pension system,
pension insurance,
basic pension insurance,
unit-linked occupational pensions,
individual pension insurance
Supporting agencies: The research was carried out within the framework of the project “Optimisation of insurance protection of the population in the conditions of biological threat” (St. Petersburg State University, Pure ID: 94029915).
About the Authors
S. A. Belozerov
St. Petersburg State University
Russian Federation
Russian Federation
Sergey A. Belozerov - D.Sc. in Economics, Professor, Head of the Department of Risk Management
and Insurance
7-9 Universitetskaya emb., St Petersburg 199034
Tong Li
St. Petersburg State University
Russian Federation
Russian Federation
Li Tong - postgraduate student at the Department of Risk Management and Insurance
7-9 Universitetskaya emb., St Petersburg 199034
V. A. Arkadiev
St. Petersburg State University
Russian Federation
Russian Federation
Vladislav A. Arkadiev - postgraduate student at the Department of Risk Management and Insurance
7-9 Universitetskaya emb., St Petersburg 199034
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Review
For citations:
Belozerov S.A., Li T., Arkadiev V.A. National characteristics of pension insurance system in China. Economics and Management. 2023;29(7):772-782. (In Russ.) https://doi.org/10.35854/1998-1627-2023-7-772-782
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