Challenges Arise in an Aging Society

Challenges Arise in an Aging Society

Oriental Outlook Issue No. 11， 2018

Twenty years have passed since China officially declared entering an aging society in 1999. Figuring out how to meet peoples demands for senior care is a key issue that China needs to resolve in the course of building socialism with Chinese characteristics in the new era.

Alongside with economic and social development， family structures continue to change， seeing sub-replacement fertility， and an increase in empty nests and nuclear families. These have challenged the traditional Chinese idea of raising children to support the parents. Today， the biggest concern for Chinese seniors is who will take care of them and where they will spend the rest of their lives.

In light of the large population of the elderly， domestic conditions and cultural tradition， the Chinese government has devised a family-based senior nursing system that involves the efforts of community service centers， social organizations， and hospitals.

The governments support has raised the enthusiasm of private and foreign enterprises， which see China as a market with great potential. A new surge of investment is expected to boost the development of the Chinese senior care industry. Challenges exist， of course， but a better future is also foreseeable.

China Seeks New Driving Force for Reform

Insight China Issue No. 9， 2018

Recently， a museum on reform and openingup was opened in Shekou， Shenzhen City. Forty years ago， Shenzhen was just a small seaside village designated as a pilot zone for the reform and openingup. Since then， the city has been considered the front line of reform and openingup and witnessed the fast development of the country.

The year 2018 marks the 40th anniversary of Chinas reform and opening-up. How will China further implement and adjust the course of reform？ Government reform undoubtedly is on the top of the list in the new round of reform， but still remains a real challenge. Government reform plays a key role of leading the overall reform， if it succeeds， economic， social， and political system reforms will also be facilitated.

The horn has been blown， kicking off the second round of reform centered on the Party and state institutions， which is crucial and plays a leading role for future reforms.

Preventing and Resolving Financial Risks

Minsheng Weekly Issue No. 6， 2018

If the economy is like a human body， finance is like the blood that ensures the operation of the entire system. The report delivered at the 19th CPC National Congress last October stressed that efforts should be made to deepen institutional reform in the financial sector and make it better serve the real economy， and meanwhile improve the financial regulatory system to forestall systemic financial risks.

Financial risks usually occur abruptly with destructive effects. At times， a systemic financial problem can severely impact both economic and social development.

Yi Gang， Chinas central bank governor， said the country is facing potential financial risks， especially in some financial holding groups where fake investment has been found and unfair related-party transaction is used as a tool for benefits transfer. It is easy to incur risks. For this reason， Yi believes it is imperative to issue corresponding regulations on financial holding companies.

Li Xiaopeng， chairman of China Everbright Group Ltd.， welcomes strengthened supervision on financial holding companies. “Regulating the development of financial holding companies and forging worldclass brands with strong competitiveness embody the strength of our country， and also meet the demand for high-quality development in the new era，” Li said.

Music Education Has Changed

Xinmin Weekly Issue No. 12， 2018

Back in 1978， at the inception of reform and opening-up， a piano was considered a luxury for most families. Besides a high price， the instrument occupies an area of more than two square meters， while at that time the average living space per person in urban areas was only 6.7 square meters.

In recent years， however， more than 30，000 kids in Shanghai attend graded piano tests every year. Forty years ago， parents were eager for their children to learn music in order to raise a future pianist or teacher. Now， the situation has changed. Parents want their children to appreciate art. Learning art is not meant to be a career， but more so to develop a well-rounded person.

A quote from former American President John Adams perfectly fits the current situation in China： “I must study politics and war， that my sons may have the liberty to study mathematics and philosophy， natural history， and naval architecture， in order to give their children a right to study painting， poetry， music， architecture， tapestry， and porcelain.”

Parents believe that learning art can help their children develop an ability to explore， think about， and seek beauty. As the Internet continues to be an integral part of our everyday lives， many innovative entrepreneurs have started utilizing the Internet to change the traditional model of teaching music.