The Development of Social Security in China (1949-2019)

39 Pages Posted: 18 Sep 2019

See all articles by Gao Zexin

Gao Zexin

University of Malaya, Faculty of Economics

Mario Arturo Ruiz Estrada

Econographication Virtual Laboratory (EVL); Universidad de San Carlos de Guatemala - Facultad de Ciencias Economicas

Aslam Mohamed

affiliation not provided to SSRN

Minsoo Lee

Asian Development Bank

Date Written: September 10, 2019

Abstract

Over the past 60 years, the social security system has continued to advance with the development of the economy. Especially since China’s Reform and Opening-up, the role and status of social security have become more and more prominent. With the evolution of value concepts and the transformation of the system interacted with each other, China's social security has embarked on a complicated track of establishing and reform. In 2003, the Central Committee of the Communist Party of China promulgated the "Central Committee's Decision on Several Issues Concerning the Improvement of the Socialist Market Economic System" and proposed that accelerating to found a social security scheme that is matching with the level of economic development. Thus, the social security can become an integral part of the economic system reform. It was not until the Tenth National Congress in 2004, the constitutional amendment was passed, which the provisions of “establishing a sound social security system” were officially included into the constitution, demonstrating that the social security system has formally become a necessary basic institutional arrangement. The status of the social security in China has gradually increased, and the whole society has been increasingly valued its role.

Keywords: Social Security, China, Pensions, Welfare, and Insurance

JEL Classification: E65

Suggested Citation

Zexin, Gao and Ruiz Estrada, Mario Arturo and Mohamed, Aslam and Lee, Minsoo, The Development of Social Security in China (1949-2019) (September 10, 2019). Available at SSRN: https://ssrn.com/abstract=3450976 or http://dx.doi.org/10.2139/ssrn.3450976

Gao Zexin (Contact Author)

University of Malaya, Faculty of Economics ( email )

Kuala Lumpur, Wilayah Persekutuan
Malaysia
126850293 (Phone)
50603 (Fax)

Mario Arturo Ruiz Estrada

Econographication Virtual Laboratory (EVL) ( email )

Kuala Lumpur
Malaysia
+60126850293 (Phone)
0 (Fax)

HOME PAGE: http://www.econographication.com

Universidad de San Carlos de Guatemala - Facultad de Ciencias Economicas ( email )

Ciudad Universitaria Zona 12
Guatemala City, Guatemala city 01012
Guatemala
0 (Phone)
0 (Fax)

HOME PAGE: http://www.usac.edu.gt

Aslam Mohamed

affiliation not provided to SSRN

Minsoo Lee

Asian Development Bank ( email )

6 ADB Avenue, Mandaluyong City 1550
Metro Manila
Philippines

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