British media: There are still problems in China's pension system

The Daily Telegraph of September 13, the original title: China's pension system crisis is slowly emerging in a park in Shanghai, the city's elderly people are dancing with the rhythm of pop music. They have lived for quite a long time to experience the good times of their lives.　　Their country is becoming richer, thus giving people a higher expectation of quality of life. But it is not a calming thing to be old in China because the population of this country is rapidly ageing.　　According to official statistics, the number of elderly people over the age of 60 is now 167 million, and this figure is likely to reach an astonishing 400 million in 2050, accounting for One-fourth of the total population of China. The existence of a family planning policy has led to a considerable decline in the number of young people raising older persons. Peng Xizhe, a professor at Fudan University in Shanghai, said China could experience a crisis in its pension system over the next 20 years.　　Although no one wants a crisis, the growing prominence of China's endowment problem requires real attention. Although China's economy is booming, the country must find better ways to raise the growing population of ageing. A less-than-plentiful pension makes it a problem for the elderly living in urban or rural areas.　　In China's tradition, the responsibility of raising the elderly should fall on the shoulders of young people, but at present China's only child is facing unprecedented pressure. This year's 22-Year-old Shire is a classic example. She is now working in a bank, in addition to taking care of her parents and caring for a cancer-affected grandfather. It's not hard to imagine how much it takes to keep a job while finding a boyfriend and taking care of the whole family.　　She said in an interview that she had a lot of friends facing similar situations and pressures. In the city of Shanghai, where one-fifth people are facing retirement, there are a handful of old people who cannot get or receive very little pensions, and spend their old age on their own savings.　　China still has a lot to do with the issue of pensions, and the outcome of this is bound to be passed on from one generation to the other. (王欣 translation)