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What about China's pension industry in 2019? An analysis of the current situation of China's elderly

The draft amendment to the individual income tax law is submitted to the fifth session of the Standing Committee of the 13th National People's Congress for deliberation. It is noteworthy that the draft decision will expand the expenditure for supporting the elderly with high social concern into the scope of special additional deductions. What about China's pension industry in 2019? China's current pension situation analysis.

The Constitution and Law Committee of the National People's Congress, after synthesizing various opinions, said that the pre tax deduction of expenditure for supporting the elderly is allowed, aiming to carry forward the traditional virtue of respecting the elderly and filial piety to the elderly, fully considering the fact that China's aging population is accelerating, the working class has a large number of only child families, and the burden of supporting the elderly is heavy.

At present, China has become the country with the largest elderly population in the world. According to the latest data of the National Bureau of statistics, in 2017, there were 240 million 900 thousand people aged 60 and above, accounting for 17.3% of the total population, including 158 million 310 thousand people aged 65 and above, accounting for 11.4% of the total population. When a country or region's population aged over 60 accounts for 10% of the total population, or the population aged over 65 accounts for 7% of the total population, it means that the population of this country or region is in an aging society. The proportion of the elderly population in China is obviously too high.

In recent years, the number of people over 60 years old in China has been growing. In 2013, the number exceeded 200 million, accounting for only 14.9%; in 2017, the number reached 240.9 million, accounting for 17%. With the deepening of population aging, China's aging population will further increase in the future.

The main body of the supply of pension institutions in China is public pension institutions. Other forms of pension institutions are not fully developed and the number of beds is small, which can not fill the supply gap left by public pension institutions. In 2016, there were 28500 old-age service institutions in China, with 7.8 million beds and 33.8 beds per thousand old people. Compared with the number of beds in developed countries, there is a big gap. There is a big gap in the demand of the elderly for pension institutions in China. The number of beds in pension institutions is far less than the demand, and the contradiction between supply and demand is very prominent. It is estimated that by 2018, the number of pension service institutions in China will exceed 30000.

As China's pension industry has just begun to develop, there is no really mature model, and there is no listed company with the pension industry as the main business, and the pension industry, as an emerging market involving a very wide range, needs further development. According to the white paper on the development of China's pension Industry issued by the Chinese Academy of Social Sciences in 2016, it is estimated that the market of China's pension industry will reach 13 trillion yuan by 2030.

Therefore, whether from the perspective of business opportunities or the needs of the elderly, pension has become a new 'outlet' for capital to pursue. There are many market segments in the pension industry, mainly including four areas: pension real estate, pension finance, pension services and elderly supplies. Capital flocked to the pension sector.