China’s greying population is refusing to save for retirement
Much to the frustration of the country’s policymakers
Hongbaos are usually reserved for special occasions, such as birthdays, weddings and the Chinese mid-autumn festival, which got under way on September 29th. But now these red envelopes, stuffed with cash, are part of a push by China’s banks to get citizens thinking about retirement. They are being offered to customers who register for private-pension accounts.
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This article appeared in the Finance & economics section of the print edition under the headline “Red letter pay”
Finance & economics October 7th 2023
- A surge in global bond yields threatens trouble
- Oil prices fall, defying suggestions of a $100 barrel
- Why investors cannot escape China exposure
- Why India hopes to make it into more big financial indices
- China’s greying population is refusing to save for retirement
- How carbon prices are taking over the world
- To understand America’s job market, look beyond unemployed workers
From the October 7th 2023 edition
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