According to the seventh national population census, China is rapidly aging, and current demographic trends may persist in the coming decades, posing significant economic and social challenges.
Among these challenges, the impact of population aging on the savings rate is particularly worth study as the latter may affect other important economic factors like consumption and investment. On August 19th, CF40 held the 135th Young Economist Forum to discuss the determinants of savings rate fluctuations in an aging China, as well as effective responses to these changes.
Du Yang, CASS's Deputy Director of the Institute of Population and Labor Economics, along with Feng Yonggang, research associate at the institute, presented a wealth of statistics and the factors that influence savings rate as the population ages, as well as how pension reforms may affect savings rate.
The keynote speech was followed by comments from Ruan Jianhong, CF40 Guest Member and Director of the Investigation and Statistics Department of the PBC, and Duan Guosheng, CF40 Council Member and Executive Vice President and CIO of Taikang Insurance.
The event was moderated by Dr. Wu Ge, convener of CF40 Young Economist Forum and Chief Economist and Assistant President at Changjiang Securities.