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 delivered new insights into priority reform areas, and the policy strategies to best suit the changing economic and demographic structure.
They were:
- Ageing trends: Improvements in longevity and health in China have not been equal across provinces. The Hub analyses ageing trends over time and across provinces, and is developing an index measuring the preparedness of Chinese provinces for population ageing.
- Long-term care: Demographic, urbanisation, and economic patterns put pressure on traditional care arrangements in China. The Hub analyses attitudes to different long-term care arrangements, estimates future demand of modes of care, and evaluates measures that can ensure the supply of care meets the demand for it.
- Mature labour force participation: Pension ages for urban Chinese workers are 60 for men and 50 or 55 for women, but most retire earlier. The Hub studies the determinants of mature labour force participation and the effects of future increases in pension ages.
- Retirement income, financial products and housing: The market for retirement financial products in China is small but will become important as the population ages. The Hub develops new financing mechanisms based on empirical research into income trends and risk exposures of older Chinese. A key focus in on housing-related products such as reverse mortgages as a source of retirement income.
Publications of the China Hub
Mi H., Fan XD., Lu B., Cai LM and Piggott J., (2018) Preparing for population ageing: estimating the cost of formal aged care in China, ARC Centre of Excellence in Population Ageing Research Working Paper 2018/3