Issues and Options for Social Security Reform in China

Issues and Options for Social Security Reform in China While China has made remarkable progress in economic growth, its progress in social development, particularly the reconstruction of a social security and welfare system, is still lagging. China is facing serious social and economic challenges such as widening income inequality, large-scale poverty, high unemployment pressures, increasing labour mobility, declining consumption propensity and increasing incidence of social conflict and unrest. Quickly and impartially transforming the current social security system into a new system accepted by all parties is a key challenge China is facing today.