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Social security

Abstract:

When China had a centrally planned economy, the role of the state may have been best described as a socialist welfare provider. However, since the economic reforms this role has changed; the state’s role is now more to administer a modern social security system that demands sustainability and adaptability to the ever-changing socio-economic environment. Consequently, pensions, housing, healthcare, and other social security services closely related to people’s livelihoods, which used to be fully subsidized by the state, have now become ‘commodities’ and part of the individual’s responsibility. Given the size of China’s population and the welfare expectations of the population under the old system, it is easy to understand ...

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