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Pension Reform in Urban China (1993-2003): Legacies, Challenges, and Achievements

Mon, August 14, 4:30 to 5:30pm, Palais des congrès de Montréal, Floor: Level 5, 517B

Abstract

Through a historical overview of China’s pension reform schemes from 1979 to 2003, this paper analyzes China’s path towards revitalizing its archaic and burdened pension system. Special emphasis is placed on deciphering the impact of communist legacies on formulating pension reform policies. Additional effort is spent on examining the external influence, particularly those from the World Bank on China’s pension reform trajectory. This study concludes that China’s pension reform is an integral part of China’s epochal economic reform by facilitating labor market restructuring and appeasing discontents from pensioners. The reformed system reflects China’s pragmatism: while the country made concessions to international expectations, it still clings to foundational socialist principles, namely, the necessity of maintaining a social safety net for its old age workers.

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