INSIGHT: GREATER CHINA - As health coverage withers, China’s pensioners take to the

MARCH 2, 2023 INSIGHT: GREATER CHINA As health coverage withers, China’s pensioners take to the streets in protest THE TAKEAWAY funding for pooled municipal funds, and incentivize visits to primary care clinics. [...] This means that, at the Recent health insurance reforms in Wuhan and local level, citizens would get a larger annual amount Dalian have sparked rare large-scale protests led by of medical costs covered, but the higher deductibles China’s elderly, who maintain that the policies are required by the reform would translate to higher cost-cutting measures that increase their medical out-of-pocket costs. [...] The National Healthcare Security Administration Thousands of mainly elderly citizens gathered in the (NHSA) indirectly responded to the protests on streets of Wuhan on February 8 to protest reductions February 25, stating that the medical insurance in health-care coverage. [...] S.-based Radio Free Asia that governments’ wallets most of the protesters on February 8 were retired Demand for real estate is still weak after two years of factory workers from the Wuhan Iron and Steel turmoil in the property sector, but some observers, Corporation, dissatisfied with their treatment after including the CEO of HSBC, are now expecting a working for the company for decades. [...] A retirement-age raise on the horizon the outlet’s projections, the entire national insurance There has long been speculation that China would fund will be in the red by 2034, and in nearly C$196.3 raise its retirement age.