China to Increase Retirement Age Amidst Aging Population Challenges
China has announced a gradual increase in the retirement age over the next 15 years, driven by its rapidly aging population. Starting January 1, 2023, the retirement age for female factory workers will rise from 50 to 55, and from 60 to 63 for men. Public opinion remains restrained due to the country’s one-party system, even as the demographic changes pose significant economic challenges. Critics highlight persistent issues within the pension system, particularly for migrant workers, indicating that the reform is just a first step in a broader, much-needed overhaul.