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Retirement Doesn't Work for Many Chinese
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Retired residents of Chinese mainland have expressed a strong willingness to continue working to improve their lifestyles and preserve their financial independence, according to the findings of a recent global survey carried out by the Hong Kong and Shanghai Banking Corporation Limited (HSBC).

This survey, The Future of Retirement, covered more than 20 countries and territories including China, the United States, Britain, Brazil and Singapore. More than 20,000 adults across the world were interviewed.

Most of those surveyed in the Chinese mainland felt retirement should be a matter for individuals, and should depend on their willingness and ability to continue working.

About 31 percent of the mainland interviewees thought they should decide their own retirement age and 25 percent felt it should be based on the ability of individuals to continue working.

Most of the mainland residents surveyed made it clear they prefer to keep working instead of going into retirement. Some 33 percent said that work would make their lives more valuable and 31 percent believed it assisted with relaxing both body and mind. However, 13 percent admitted they had to continue working because of financial pressures.

In respect of financial support in retirement, the Chinese citizens share similar views with those of other counties, with 46 percent contending they should be in a position to look after themselves. Only 11 percent suggested it was the obligation of their families to assist.

(China.org.cn by Wang Ke, May 17, 2006)

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