16:39 - 13.09.2024

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September 13, Fineko/abc.az. China will raise the retirement age for the first time since 1978, which is likely to slow down the country's workforce decline, but will anger workers who are already struggling with a slowdown in the economy, ABC.AZ reports, referring to Bloomberg.

According to the approved plan, the retirement age for men will increase from 60 to 63 years, and for women - from 50 and 55 to 55 and 58 years, respectively. The increase will occur gradually over 15 years, starting on January 1, 2025.

"Governments at all levels should actively respond to the aging of the population, promote and support the employment and entrepreneurship of workers," the decision of the Standing Committee of the National People's Congress says.