Hey folks, I've always been curious about the differences between social security systems around the world. Does China have a similar system to the U.S.? I've heard they've got something called the "Urban and Rural Resident Basic Old-age Insurance System," but I'm not sure how it compares. Any insights from those who know? ???
China's social security system relies mainly on social insurance set up by the government, with fewer supplemental pension plans provided by employers and a weak sense of personal savings and investment.