Experts suggest this adjustment could maximize the potential of China's increasingly educated population, helping to address demographic shifts and support the country's modernization efforts. The session, led by NPC Standing Committee Chairman Zhao Leji, follows a July resolution by the Communist Party of China Central Committee to refine population strategies in response to an aging populace and declining birth rates.
The proposed reform aims to raise the statutory retirement age progressively, emphasizing voluntary participation and flexibility. While specific details remain undisclosed, the move is viewed as a response to China's rising life expectancy and education levels, as well as a means to enhance human resource efficiency.
Zhou Haiwang from the Shanghai Academy of Social Sciences notes that extended life expectancy may result in more individuals aged 50-60 desiring to continue working. Yuan Xin of Nankai University adds that this reform could help address the challenges posed by an aging population.
Recent statistics show China's average life expectancy has reached 78.6 years, a significant increase from 57 years in 1957. However, the country faces demographic pressures, with a negative natural population growth rate and an increasing elderly population. The proportion of people aged 65 and above has grown to 15.4 percent of the total population, raising concerns about labor supply and pension sustainability.
