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Monday, May 29, 2017
China's social security system a huge industry
ANBOUND

According to the plan, China's 13th Five-Year Plan’s Social Security card coverage rate will reach 90%, at the same time social security card’s functions are also increasing. Anbound research team believes that this is bound to require the establishment and support of one of the world's largest social security coverage network, but there are three issues. First, the social security funds will face a lot of pressure, like the source of the funds. Taking into account the decline in the rate of insurance and the increasing trend of aging, how will the larger social security system be in conflict with the increased demand for allocation of state-owned enterprises? Second, the establishment of social security system will support one or more industries, such as the elderly care industry. Third, the above trends put forward new requirements on the national social security service system, there is the need to further open up and integrate.

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