China's Long March to Retirement Reform

Although China is still a relatively young nation, it is about to undergo a stunning demographic transformation. By 2040, there will be 400 million Chinese elders, of whom 100 million will be aged 80 and over. In 2004, GAI released The Graying of the Middle Kingdom, a highly influential report that highlighted the economic, social, and political risks if China fails to prepare for the aging challenge. China’s Long March to Retirement Reform, which was released in China on April 22, 2009, updates and expands GAI’s original study. It offers a “report card” on recent government reform efforts. It also presents a detailed proposal for creating a new national pension system that combines a universal floor of poverty protection with funded personal accounts.