HONG KONG — China said Friday it would raise its retirement age for the first time in decades, as the world’s second-largest economy struggles with falling birth rates and an aging workforce.
The country’s top legislative body approved a draft proposal to gradually implement the changes, state media reported Friday.
China's retirement ages are among the lowest in the world and had remained unchanged since they were set in the 1950s.
For those born in 1965, retirement would be delayed by one month, according to a chart published by Xinhua, China’s state-run news agency.
The changes have been the subject of heated discussion among the Chinese public since they were proposed earlier this year.
Persons:
China's, Young
Organizations:
National People’s, Xinhua
Locations:
HONG KONG — China, China’s, Weibo