China's Personal Pension Penetration Rate Reaches 80% but 8% Purchase

McKinsey, a global management consulting company, recently released the McKinsey China Pension Research Report - Embracing the Age of Aging: Insurance Institutions participate in the Integrated Exploration of China's pension Security, showing that China's population aging is developing at an unprecedented speed, and it is expected that by 2027, China will rapidly transform from an "aging" society to an "aging" society. Under the multiple challenges of accelerated aging of China's population, weak economic recovery and increasing macroeconomic uncertainty, China's elderly care industry is showing many problems, such as weakening family functions, insufficient payment channels for elderly care services, few types and supply shortage of rural elderly care services, and structural imbalance of urban elderly care services.