The Australia-China Population Ageing Research Hub, established in 2015 with significant funding from UNSW, undertakes extensive research into the economic and health implications of population ageing in China, such as pension and social security reform, labour supply, and disability prevalence.
It is based at CEPAR's UNSW node, and our existing and emerging linkages with Chinese academe - including China Nine (C9) universities - and relationships with policy makers at all layers of government, make us uniquely placed to spearhead this initiative.
By 2030, China’s ageing population (65+) is estimated to rise by 68%, and by 2050 UN estimates are that it will have more people over the age of 60 than any other country. China therefore urgently needs to develop and establish firm and sustainable policies addressing retirement provision, health and ageing, and well-governed business practices.
Research Program and Activities
Informing policy and practice innovation requires a major and focused research effort now, along with mechanisms for ensuring research impact on policy.
A major initiative to build research capacity and networking in China itself is urgently needed, so that well-trained expertise is available within China over the most critical transition period.
A multidisciplinary research program in four key areas will deliver new insights into priority reform areas, and the policy strategies to best suit the changing economic and demographic structure.
- Mature labour force participation
- Retirement incomes and financial products
- Long-term care
- The role of housing in intergenerational wealth transfer and
Professor John Piggott: Director of CEPAR and the China Population Ageing Research Hub
Professor Hanming Fang: Hanming is the Hub's Scientific Director and leads the research program, with a pivotal role in developing linkages with research and policy institutions and personnel in China and elsewhere.
Dr Katja Hanewald: Katja's the Hub’s Senior Research Fellow with a key role in the research program and in the development of outreach activities and linkages.
Dr Lu Bei: Lu Bei is a Research Fellow in the Hub. She contributes years' of experience in China-focused research and strong links with leading Chinese research institutions and linkages
Dr Han Li: Han joined the Hub as a Research Fellow in September 2016 after completing her PhD in Actuarial Studies at Monash University.
Dr Shang Wu: Shang joined the Hub as a Research Fellow in October 2016 after completing his PhD in Actuarial Studies at UNSW.
Xiaoyun Zhang: Xiaoyun is working on her PhD in Economics under the joint supervision of John Piggott, Katja Hanewald and Tess Stafford.
The Annual Workshop on Population Ageing and the Chinese Economy was held on Thursday 21 and Friday 22 July 2016. The workshop program and links to the presentations can be found here.
The China Hub will soon be announcing the recipients of the UNSW Scientia PhD Scholarships. These prestigious scholarships include a stipend of $40,000 per annum for 4 years and a support package of up to $10,000 per annum awarded to provide support for development activities, international collaboration and other related expenses (applications closed 11 November 2016).
Project Title: Behavioural Insights for Retirement Financial Planning in China
Prof Hazel Bateman: https://www.business.unsw.edu.au/our-people/hazelbateman
Prof Hanming Fang: http://economics.sas.upenn.edu/~hfang/
Dr Katja Hanewald: https://www.business.unsw.edu.au/our-people/katja-hanewald
Project Description: This project will develop new retirement financial products and assess optimal retirement financial strategies for the Chinese market, taking into account cultural and behavioural factors such as intergenerational relations, saving habits and differences in risk aversion. We will (1) analyse relevant cultural and behavioural aspects of retirement planning using existing survey data, (2) conduct a survey in China on desirable features of retirement financial products, (3) develop and price new retirement financial products, (4) specify optimal retirement financial strategies based on the new products using a life-cycle model, and (5) present the research results to policymakers and financial services providers.
Contact Dr Katja Hanewald
P: +61 2 9385 6174