The Third Plenum kicks off in China: will it combat elderly poverty?

China kicked off its Third Plenum on July 15, an important meeting held only once every five years, where it will decide on medium and long-term economic policy.

In the midst of an economic slowdown in the country, China’s focus for this plenum is expected to be measures to deal with rapidly declining birthrate and ageing population.

Problems with an aging population include poverty among the elderly, which is becoming increasingly serious in Chinese society.

Liu, who earns his living by selling the waste he collects, is 70 years old this year.

Liu: I go to the specified place at a specific time every day to collect the items.

He works from dawn until dusk, earning approximately 2,000 Japanese yen a day.

In China, the retirement age for men is 60, but many have to keep working in order to pay their monthly rent of 80,000 yen.

Liu, who is from a rural area, has a pension of only 6,000 yen per month.

In China, there is a tenfold difference in the amount of basic pension benefits depending on whether you come from an urban or rural area.

Liu: Everything in life costs money, including groceries. I can't do anything with this kind of money.

By 2035, the number of the number of people aged 60 and over in China is expected to reach 400 million, or approximately 30% of the population.

There will be extra attention on how the Third Plenum will set out a roadmap for the expansion of public pensions and other measures.