Panel: How will raising retirement ages help China handle an aging population?

Chinese Premier Li Qiang has called for the steady and orderly implementation of the reform on raising statutory retirement age. Li emphasizes adhering to the principle of voluntary participation and flexibility in implementing the policy. China recently passed legislation to gradually raise the statutory retirement age over a course of 15 years. There will also be a requirement for more years of contributions to the pension system in order to access pension benefits. To what extent can the new policy help China handle an aging population? Host Ding Heng is joined by Professor Ronald Lee from the Graduate School in Demography and Economics with the University of California, Berkeley; Dr. Zhou Sili, Associate Professor in Finance with University of Macau; Professor Liu Baocheng, Director of the Center for International Business Ethics with University of International Business and Economics.