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China’s Evolving Social Welfare System

In: China Business 2.0

Author

Listed:
  • Henk R. Randau
  • Olga Medinskaya

Abstract

China is facing big social challenges as the current pension system is unsustainable and the healthcare system has many flaws. Both systems are underfinanced, give only limited help to those in need, and require more functional and effective regulations to avoid mismanagement. The weak social welfare systems are a major reason for the high savings rate (Chap. 2 ) in China and are harming the government’s efforts to boost spending (Chap. 5 ). In order to increase internal consumption, the government must find a way to boost the public’s confidence and provide them with a strong sense of welfare security.

Suggested Citation

  • Henk R. Randau & Olga Medinskaya, 2015. "China’s Evolving Social Welfare System," Management for Professionals, in: China Business 2.0, edition 127, chapter 20, pages 93-95, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-319-07677-5_20
    DOI: 10.1007/978-3-319-07677-5_20
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