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10/10/24AgingChallengesforEU&China YangRui:Hello,I'mYangRuiwiththeDialogue. Nowadaysonlylessthan8percentoftheworld'spopulationisagedat65orabove,butthisfigureislikelytodoublebytheyear2050. InChinatheagingprocessispickingupwiththeeldersovertheageof60numberingnearly160millionin2008. PopulationexpertssaythatChina'slargearmyofpensionerswillenterintoapeakperiodbetweenthe2020'sand30's... ...butisChinareadytosupporttheseelders? Howshallweassessthenationalsocialpensionandinsurancesystem? JoiningusnowinthestudiohereareProfessorHuJiYe,associateprofessorwiththecenterforlawandeconomics,ChinaUniversityofPoliticalScienceandLaw, ...MrRiesonClark,fundmanagerexpert,andMr.SteveBarker,unemployementinsuranceexpert. TheyarebothfromtheEuropeanUnion. Beforewestartinterview,let'stakealookatthisreport. Theworld'spopulationhasbeengreyingformanyyearsduetodecliningbirthandmedicaladvancesthathaveextendedlifespans. Asthefastestgrowingagegroup,seniorsnowcomprisejustunder8percentoftheworld's6.8billionpeople.AccordingtotheUSCensusBureauthatsharewilldoubleby2050to16percent.InChina,thepicturemaybemoregruesome.China'scurrentratioof16elderlypeopleperhundredworkersissettodoubleby2025anddoubleagainto61by2050.Withoutauniversalpensionsystemtocovertheelderly,millionsofolderChinesecouldfallintopoverty,creatingsocialandpoliticalunrestacrossthecountry.Aspartofanefforttobuildauniversalsocialsecuritysystem,thestatecouncilissuedapolicytotransferstate-ownedsharestothenationalsocialsecurityfundinJune.Sharestransferredtothefundmustamountto10percentofthecompany'sinitialpublicoffering.Themeasureappliesto131state-controlledcompaniesthatarelistedondomesticstockexchanges.AccordingtotheMinistryofFinance,theircurrentmarketcapitalizationisnearly64billionyuan.Thepolicyalsoappliestocompaniesthatwilllistinthefuture. YR:WelcometoDialoguesir. Chinaissaidtoberichforthenation,forthegovernmentbutneverforthepeopleontheaveragelevel. Doesitmeanreallocationofthestate-ownedresourcesfortheimprovementofthesocialsecuritynetworkwhichisbas