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Whither China?Restarting the Reform Agenda$
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Wu Jinglian and Ma Guochuan

Print publication date: 2016

Print ISBN-13: 9780190223151

Published to Oxford Scholarship Online: May 2016

DOI: 10.1093/acprof:oso/9780190223151.001.0001

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The Long and Bumpy Road to a Social-Security System

The Long and Bumpy Road to a Social-Security System

(p.194) Dialogue 14 The Long and Bumpy Road to a Social-Security System
Whither China?

Wu Jinglian

Ma Guochuan

Xiaofeng Hua

Nancy Hearst

Oxford University Press

The least successful of China’s reforms is that of the social-security system. The economic progress gradually revealed the serious defects of the old social-security system that had been modeled after the Soviet system. A 1993 decision provided for universal social-security coverage, individual accounts for a basic pension system and a basic healthcare system, and administration separate from the operation of the funds. However, these reforms face difficulties in terms of providing pensions for older workers. The healthcare difficulties are due to insufficient services, and the unemployment regulations, which primarily cover the state and collective sectors, leave private-sector employees and the self-employed without unemployment benefits.

Keywords:   Chapter social-security reform, healthcare reform, pension reform, pay as you go, individual accounts, universal social security

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