China continues to raise basic pension payments for retirees
China announced Monday that it will raise the basic pension payments for retirees in 2023, marking 19th consecutive annual increase. The average monthly payment for pensioners of enterprises, government agencies and public institutions is set to be lifted by 3.8 percent from the 2022 level, according to a circular jointly issued by the Ministry of Human Resources and Social Security and the Ministry of Finance. Last year, China raised the basic pension payments for retirees by 4 percent from level of...