East Asia ,Asia (Page 28)

Through the years, the government’s pension ages have stayed the same. As the labor shrinks and pension benefits are distributed to more retirees, the tension has grown on the program.

In light of this, China watchers have cited Beijing’s decision to raise the retirement age in the recently concluded next chamber as a sign that the trend is being reversed.

We will work toward a gradual, wise and orderly increase of the statutory retirement age, according to the resolution document, without giving any specifics about how it will be implemented.

By the time the People’s Republic of China’s 80th commemoration in 2029 is observed, China has set a deadline for completion of all 300-odd transformation tasks in the file.

Although the report did not specify what would be changed regarding the retirement years, ideas have already been made. All had gradually retire at age 65, according to a report released by the Chinese Academy of Social Sciences in December.

According to Mr. Huang Tianlei, Peterson Institute for International Economics ‘ research fellow and representative of the China program, the state is “making a bargain.”

It essentially lets people decide whether or not to retire after. If they do decide to retire afterwards, they will likely get a higher income, and if they decide to get ( the pension ) on time or even first, they may get less”, he said.

It aims to give people a sort of opportunity to leave a little later.

RILING UP THE Boys

The region has been impacted by the strategies, particularly among young people, with many people posting suffering electronically.

” Those who want to retire are those who work in impoverished conditions, and those who do n’t are employed are those who have high-paying jobs but do much less.” How does younger people life”? one Weibo users in China lamented.

Another had problems about job security. We are all willing to work for a few more times and make our own money without giving our children too much stress as long as the government provides a great working environment for the common people.

But the question is, is a man in his 50s or 60s find things to do in this period of imine”?

Ms Chen, the financial analyst, is similarly concerned, citing” challenging” prospects due to factors like the rapid advancements in artificial intelligence ( AI ) and the possible displacement of jobs.

Instead of relying solely on one task, she is considering several copy programs.

” We have to adjust to change. I’m considering putting my skills into practice first, investing, and therefore upgrading. Or I may provide training to others to help them complete the CNA tests, she said.

Referring to the likelihood of early retirement, 24-year-old shipping officer Woody Zhu told CNA it feels like he is being served a” phrase”.

” I’d say even if it’s deliberate, even at most 10 per share would actually do that on their personal will”, he said.

Mr. Zhu outlined how many of his companions have found humor to vent their frustrations, and one way is through WeChat meme communicating.

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SINGAPORE: Prolific Chinese nationalistic commentator Hu Xijin has gone silent on social media after publishing an article analysing China’s economic strategy, in an indication of the heightened sensitivity around discussions on the country’s economy.

The former editor-in-chief of the state-run Global Times was banned from posting on social media after he wrote controversial comments about the world’s second-largest economy, Bloomberg reported on Thursday (Aug 1), citing a “person familiar with the matter”. Neither the entity behind the purported ban nor its length was specified.

At the heart of the matter is a now-deleted article Mr Hu posted on his WeChat account on Jul 22, weighing in on the outcomes of the third plenum, a reform-focused meeting by the upper echelons of China’s Communist Party (CCP).

The top-level gathering took place last month, yielding a resolution document that was long on commitments but short on specifics, although analysts singled out hints that President Xi Jinping is seeking a fourth term as China’s helmsman.

According to the South China Morning Post (SCMP), Mr Hu wrote that the resolution left out a phrase that had long enshrined the role of the state sector in the country’s economy.

He argued that the omission of the phrase “public ownership playing a dominant role” was a “historic change” that showed China hoped to “achieve true equality between the private and the state-owned economy”.

“Chinese society’s understanding, attitude and narrative of various ownership relations will have a big step forward,” Mr Hu wrote.

ANALYSIS TRIGGERS BACKLASH

SCMP reported that Mr Hu’s interpretation triggered fierce criticism from local conservative bloggers, who accused the former Global Times editor of “blatantly violating the political discipline of the party” because the “dominant role” of public ownership was enshrined in the constitutions of both the ruling party and the country.

People’s Daily, the official newspaper of the CCP, also published a front-page commentary on Tuesday, stating that China’s basic stand on the state and private sectors “hasn’t changed and won’t change in the future”.

While the commentary did not make any reference to Mr Hu’s piece, the article stated that the plenum’s resolution emphasised “upholding and improving the basic socialist economic system”, SCMP reported. 

This encompassed the party’s stance that public ownership was the mainstay of China’s economic system, which allowed diverse forms of ownership to develop together, the article wrote. 

A check by CNA on Friday (Aug 2) showed that Mr Hu’s social media accounts – Weibo, WeChat and X, formerly known as Twitter – have been silent since last Saturday. Mr Hu has more than 24 million followers on Weibo and over half a million on X, while WeChat does not show his follower count.

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