149 Deeply aging cities in mainland China: no solution to the pension crisis

  • Editing and commented by Jenny Ball
  • Editor: JIHO
The CCP’s one-child policy was abandoned earlier this year. But forty years of strict regulation has led to a shrinking labor force and a rapid aging of the population, which has put tremendous pressure on China’s social services. (China Photos/Getty Images)

There are as many as 149 “deeply aging cities” in the mainland. Analysts told The Epoch Times that the problem of aging in the mainland is different from other countries because the pension deficit is caused by the corruption of the Chinese Communist Party(CCP) and the deformed population caused by family planning. With serious problems such as the system, the pension crisis cannot be improved.

According to a recent report by China Business News, data on the age composition of the population of 336 cities above the prefecture level in the seventh census of the CCP shows that as of 2020, 149 cities in the mainland have entered a deep aging status, namely the population aged 65 and over accounted for more than 14%.

From the perspective of regional distribution, these 149 deeply aging cities are concentrated in the Northeast, the central region, the Yangtze River Delta, the middle and lower reaches of the Yellow River, and the Chengdu-Chongqing urban agglomeration. Among them, 41 are in the eastern coastal area, accounting for 27.5%; in the Northeast, there are 36, accounting for 24.2%; 72 in the central and western regions, accounting for 48.3%.

In terms of provinces, these 149 cities are distributed in 22 provinces, with the largest number being Sichuan Province, with 17 cities.

Mainland Economic Observer: China’s aging problem has its own characteristics

Mainland Economic Observer He Junqiao said on September 8 that “aging” itself is a global problem, but China’s aging problem is a problem of the pension crisis. The CCP’s pension fund deficit is serious, which directly affects the Chinese economy.

He Junqiao analyzed that the CCP did not establish any pension system from 1949 to 1979. After the “reform and opening up,” the pension system was established. However, the CCP’s severe corruption caused a massive loss of wealth, resulting in a serious deficit in China’s pension funds.

He said: “(The pension crisis) has a great impact on China’s economy. In a few years, this peak of pension payments will come. I very much doubt that it (the CCP) can cope with such a pension crisis. The huge problem looks calm, but in fact it is very, very troublesome. Therefore, it is not which city has encountered the problem of aging, but the whole country is already facing the problem of aging. It is very troublesome.”

He Junqiao predicts that in the next three to five years, the issue of the pension crisis will become very acute.

The Chinese Academy of Social Sciences published a report in 2019: “China Pension Actuarial Report 2019-2050”, which mentioned that there were as many as 16 provinces in China where pension income was not meet the expense in 2019, including Inner Mongolia, Jilin, Liaoning, Qinghai, and Heilongjiang, which are above the alarming line, the time to pay pensions is less than three months; In the next ten years, the numbers of provinces above the alarming line will increase year by year.

Analysis: There is no solution to the problem of elderly care under the rule of the CCP

He Junqiao believes that from the current situation, China’s pension crisis cannot be improved. He said: “This is an economic problem, and it is a very serious economic problem. Just like a tip of an iceberg on the sea, it doesn’t look big on the surface. In fact, the problem is huge beneath, huge pension expenditures, serious corruption, plus the economic and political intertwined between China and Western countries, there is no solution to China’s pension problems.”

Chinese American economist Li Hengqing(李恆青) also said in an interview with Epoch Times on September 8 that China’s aging problem is a very heavy burden for the future development of the entire Chinese economy, and there is no way to solve it, because the CCP’s dictatorship has turned China into a deformed society.

Li Hengqing analyzed that many countries in the world have experienced the process of aging, but the seriousness of China lies in “getting old before getting rich.” In other words, when the economy has not yet developed to such a high level, the entire society is aging, which is a big problem.

“The CCP’s family planning policy has directly led to hundreds of millions of fewer births in China, and the population structure is unbalanced. Now, two and three children are allowed for each couple. However, education and medical care are not guaranteed, and young people are unwilling to have more. This is very scary.” He said, “In the past, in order to promote family planning, the CCP promised that “one child is good since the government will provide welfare for the elders.” Later, the promise became it was children who should support for their elderly. Now CCP says that the children are deemed as irresponsible to society if they don’t take care of their elders. This is because China with the economic downturn, the CCP can no longer afford to pay pensions.”

From the overall economic point of view, it means that a complete pension system has been cultivated for at least 20 years, so this problem cannot be improved. Wen Guanzhong, Honorary Professor of the Department of Economics at Trinity College in the United States, told Radio Free Asia on September 7 that Chinese economic crisis can be seen from these population data, “The CCP’s family planning policy has caused a very big tragedy for the entire Chinese nation.”

He said that in the past, the economy was relying on cheap labour to produce labor-intensive products and export in large quantities, now this path is no longer possible; and the CCP’s system is not conducive to independent innovation. In addition, the relationship between China (the CCP) and developed countries has deteriorated and it’s more difficult to obtain technology. Therefore, CCP will encounter bigger and bigger problems.”

Comments: China’s aging problem is a problem of the pension crisis. The CCP’s pension fund deficit is serious, which directly affects the Chinese economy. Same applies to the pension fund of western countries, which would be totally destroyed due to CCP’s corruption to the world.

In Miles Guo’s live broadcasting on September 12, he mentioned that the CCP’s Ping An Group is the pension destroyer to the world as it has siphoned all the pension fund of the western countries. With the collapse of the world economy, the gloomy future of old people in the west is just too much to imagine.

Link of the article: hk.epochtimes.com

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