Madariaga - College of Europe Foundation

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Home Events Past Events 2009 Will the New Chinese Pension Scheme Boost Consumers' Spending in China?
Will the New Chinese Pension Scheme Boost Consumers' Spending in China?

13:00 - Friday, 27 November 2009

In September 2009 the Chinese government launched a rural pension scheme to tackle the problem of weak social welfare in rural areas, in particular for farmers - the most disadvantaged group in China. At first the pension scheme is designed to cover 10% of China's 2,488 counties, butit is expected to be extended to the country's 800 million farmers.

During a Citizen's Controversy on 27 November 2009, Huang Huabo, First Secretary at the Chinese Mission to the EU and Director at the General Department of the Ministry of Human Resources and Social Security, PRC and Robert Verrue, Director General for Employment, Social Affairs and Equal Opportunities at the European Commission, explored the likely consequences of this scheme on the Chinese economy. Questions addressed focused notably on the scheme's impact on domestic demand and national domestic growth and on its role in developing China's rural economy and promoting social cohesion.

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