Latest news with #Chinse
CNBC
15 hours ago
- Business
- CNBC
China plans subsidy vouchers for seniors to ease strain on its aging population, drive consumption
China is planning to offer subsidy coupons to seniors in a rare use of direct fiscal support as Beijing seeks to ease the financial strain on its aging population and drive consumption of elderly-care services. The allowances will be paid monthly in the form of electronic coupons to cover part of the costs for seniors' care services, according to a joint statement issued by the ministry of civil affairs and ministry of finance on Wednesday. Chinese policymakers have avoided direct cash handouts similar to what the U.S. and Hong Kong offered during the pandemic to stimulate spending, even as they step up efforts to support employment and improve social welfare. "The financial burden that elderly care generates for Chinse households ... is one of major current constraints to reducing precautionary savings and boosting domestic consumption," said Alfredo Montufar-Helu, a Beijing-based advisor to multinational enterprises. Seniors will be assessed for their physical disability, and only those evaluated as "moderately, severely or completely disabled" will be allowed to claim such subsidies, according to the official statement. The allowances are currently set between 500 yuan and 800 yuan a month and can be used to pay for a portion of the costs for certain senior-care services, such as meal and bathing assistance, rehabilitation and day care. Details of the plan may be further "optimized" as authorities will run a pilot in select cities this month before a nationwide roll-out later this year. The scheme will last for 12 months. The measures could incentivize the adoption of such senior care services and ease the "hefty elderly care burden" for family members, said Tianchen Xu, senior economist at Economist Intelligence Unit. Echoing that view, Lynn Song, chief economist for Greater China at ING, said that while "strengthening of the social safety net has been one of the main goals in order to better unlock consumption, these measures can be interpreted as steps in this direction." As China's population ages and middle-class consumers facing job uncertainty scale back spending, the so-called silver economy — a sector that provides goods and services for people over 50 — has been on the rise, with more businesses targeting seniors who have accumulated sufficient retirement funds. "It's crucial for the government to keep pushing forward with reforms and strategies that tackle the deeper structural [supply-demand] imbalances," Montufar-Helu said. The fiscal aid will be primarily funded by the central government, with local authorities contributing a smaller share, according to the statement Wednesday. "Elder care is a key component of the country's broader services consumption ... the initiative is designed to foster new growth drivers and better align economic development with social welfare," the statement reads, translated by CNBC. Economists have ramped up calls for Beijing to prioritize policies aimed at strengthening the country's social safety net to tackle the aging population, high youth jobless rate and tepid domestic consumption. "Mounting demographic and economic pressures are forcing Beijing to highlight the social policy agenda in the upcoming 15th five-year plan," Eurasia Group said in a note Thursday. "Bolstering the social safety net, especially through changes to pensions and healthcare, is high on the agenda to adapt to a rapidly graying society," Eurasia Group said in a note Thursday. About 22% of China's population was aged 60 or older at the end of 2024, the statement said, up from 18.7% in 2020. The population aged 65 years and above in China reached 216.8 million in 2023, accounting for 15% of the total population.
Time of India
02-07-2025
- Politics
- Time of India
Xi Jinping Goes Missing: Chinese Leader Skips BRICS, Absence Signals Power Shift In China?
/ Jul 02, 2025, 10:24PM IST Absence of Xi Jinping from public view for 2 weeks and during the upcoming BRICS summit has raised questions over the possible power shift in China. As per media reports, the unexplained absence, coupled with reduced media references of the Chinse President is leading to many speculations around his power hold and health. Some reports also say that the Chinese President may be facing some critical illness due to which he is not being seen in public. Some reports also indicate that he is not being seen due to the internal party challenges, or being deliberately sidelined. Watch.
India.com
02-07-2025
- Politics
- India.com
Xi Jinping missing: Is the Chinese president ill or..., Is Xi Jinping's era over in China? Will he meet the same fate as...
Chinese President Xi Jinping (File) Chinese President Xi Jinping missing: In a significant update from China, Chinese President Xi Jinping's recent disappearance from public events is getting worldwide attention. Notably, the Chinese President has been missing from important events including the including the BRICS summit, which has triggered an intense speculation about a possible end to his regime or a possible serious illness. Here are all the details about the curious case of Chinese President Xi Jinping. As per media reports, the unexplained absence, coupled with reduced media references of the Chinse President is leading to many speculations around his power hold and health. Some reports also say that the Chinese President may be facing some critical illness due to which he is not being seen in public. Some reports also indicate that he is not being seen due to the internal party challenges, or being deliberately sidelined. Although the Chinese Communist Party has remained silent on the issue, there is a chance that Chinse President Xi Jinping's era in China might have been over. Notably, the previous President of China Hu Jintao also saw sudden disappearance after which Xi Jinping became the President of China. Chinese agents caught in US In another significant development related to China, Director of the Federal Bureau of Investigation, Kash Patel recently said that the FBI arrested two Chinese nationals for spying on their Navy and trying to recruit American service members for the CCP's intel service. Kash Patel warned that espionage on US will be met with full force. In a post on X, he said, 'Two Chinese nationals were caught spying on our Navy and trying to recruit American service members for the CCP's intel service. Our FBI won't stand for it. We tracked them, we stopped them, and we're not done yet. Espionage on U.S. soil will be met with full force.' Citing a criminal complaint filed in the Northern District of California, the Department of Justice said the government of the PRC conducts intelligence activities against the US using various means, including the MSS, which is involved with collecting intelligence on civilians. (With inputs from agencies)
India.com
15-06-2025
- Politics
- India.com
Israel-Iran war divides world into two camps, Pakistan, India and China are supporting..., France is saying...
Iran- Israel war Iran-Israel war: In a significant escalation from the Middle East creating a profound impact on the global economy, Iran and Israel have been engaged in a deadly conflict over the last week. While Israel reportedly made a devastating impact on the nuclear facilities of Iran with its fighter jets, Iran responded by attacking many critical areas located in Israel's Tel Aviv. As a result of the massive escalation, the world has divided into two factions- one that is supporting Israel's actions against Iran saying Iran's nuclear development is a threat to the world and the other side which is saying Iran has every right to respond. Here are all the details you need to know about which countries are siding with Iran and Israel. France French Foreign Minister Jean-Noel Barrot posted on X that Paris is concerned about Iran's nuclear ambitions and stands with Israel, urging all parties to avoid further escalation. China The Chinse Foreign Ministry spokesman Lin Jian has said that China opposes any actions that violate sovereignty, security and territorial integrity of Iran. It also announced that it is deeply concerned about the grave consequences of the escalation. India Readers should know that India has not taken any sides in the conflict. It has urged dialogue and diplomacy to reduce tensions between the two countries as both Israel and Iran are its significant partners. Pakistan Last but not the least, Pakistan has also strongly condemn the 'unjustified' Israeli attacks on Iran. Iran launches new wave of attacks on Israel In response to the massive Israel attack, Iran's Islamic Revolution Guards Corps (IRGC) launched a 'large-scale combined offensive operation' against Israel, involving a significant number of missiles and drones, as per a report carried by news agency IANS. According to the IRGC's official news outlet Sepah News, the IRGC's aerospace division carried out the attack on late Saturday night, stating it was in response to Israel's 'repeated aggressions' against Iran. During the attack, a rocket struck a residential building in a northern community of Israel, killing one woman and injuring 13 others, according to Magen David Adom (MDA), Israel's national emergency medical service. (With inputs from agencies)
Straits Times
05-06-2025
- Entertainment
- Straits Times
Diamond Zhang Bichen to hold debut Singapore concert on Aug 1
Chinse singer Diamond Zhang's upcoming show will feature her singing with a live symphony orchestra. PHOTO: BIZ TRENDS Chinese singer Diamond Zhang is set to sparkle here for the first time. The 35-year-old, whose Chinese name is Zhang Bichen, will perform on Aug 1 at The Star Theatre, as part of her Epic Of Love symphonic concert tour. This tour will kick off on June 8 in the Chinese city of Hangzhou and stop at cities such as Hong Kong, Chengdu, Guangzhou and Kuala Lumpur. It will feature Zhang singing with a live symphony orchestra, and focus on different aspects of love, such as its pure, powerful and introspective sides. Zhang is known for winning the third season of the Chinese reality talent show The Voice Of China in 2014, where she was mentored by veteran Chinese star Na Ying. Since then, she has released three albums – Morning Bound For Midnight (2016), Time (2021) and Echoes Of Now (2025) – and sung theme songs for many soundtracks. One of her most popular works is Liang Liang, a duet with Taiwanese singer Aska Yang that is a closing theme song for the Chinese period drama Eternal Love (2017). Another well-known song, Annual Ring, made it to the soundtrack of The Journey Of Flower (2015), another Chinese period drama. Tickets to her upcoming show will be released on June 7 at 10am. Zhang Bichen's Epic Of Love 2025 Symphonic Limited Concert Where: The Star Theatre, The Star Performing Arts Centre, 1 Vista Exchange Green When: Aug 1, 8pm Admission: $98 to $298 via BookMyShow ( and Bigtix ( Join ST's Telegram channel and get the latest breaking news delivered to you.
