The NDC Model： A Way to Resolve Moral Hazard in China＇s Social Security System

Since the mid-1990s, China has adopted a partially funded pension scheme in building its social security system. However, after nearly 10 years of operations, people found that the serious moral hazard problem of contribution defaults and loss of control concerning pension payment stemmed from this partially funded pension scheme. This institutional arrangement has also resulted in the so-called “adverse selection in non-market institutions”,which in turn is capable of destroying the current system. This article argues for the introduction of the Notional Defined Contribution (NDC)scheme, because it can solve the problem of moral hazard and adverse selection. Moreover,it can solve the problem of a lack of institutional conditions for the entry of the social security fund into the stock market. It is important to note that the NDC scheme fully conforms to the initial intention of the policy-makers who designed the partially funded pension scheme in mid-1990s.     

Urbanization, Rural Land System and Social Security in China

I. IntroductionIn Chinas transition and economic development, temporary migration, lack of basic socialsecurity arrangements for migrants, and frequent administrative land reallocation in ruralareas and abusive rural land requisition in the process of urbanization are all importantpolicy issues both in academic research and on government agenda. Many policyrecommendations have been proposed to solve these issues.As to urbanization and migration in China, the Hukou (urban permanent residentia…     

Reform of China＇s Pension System

This paper mainly analyzes development and reform of China‘s pension system. It introduces the evolution of China‘s pension system reform and discusses its strengths and problems.The paper then proposes some suggestions on the direction of China‘s pension reform. The last section is devoted to a discussion of China‘s corporate occupational pension, which is a fast-developing area of the pension system.     

Old Age Security： A Case from Rural Suzhou

I. Introduction A traditional pattern of old age support in the rural society of China can be characterized asthat of a family taking full responsibility in caring for its elderly. During the 1950s, a “Five Guarantee System” was established in the People’s Communes for protecting those who have no kin and cannot support themselves, with the guarantee of food, clothing, housing, medical treatment and burial expenses. Moreover, in the cases where poor villages could not meet the basic need…     

The Reform of China＇s Rural Land System

This paper discusses the reform of China‘s rural land system in the past more than 20 years. It reviews the course of China‘s rural land system reform since 1978 and the enormous contribution that the household contract responsibility system made to China‘s agricultural and rural development. Then it summarizes the current situation and existing problems in China‘s rural land system. Finally, it offers some policy suggestions on how to perfect the rural land system.     

Local ＂Land Finance＂ in China＇s Urban Expansion： Challenges and Solutions

This paper considers the issue of local ＂land finance＇＂ in the context of China ＂s fast urban expansion. In an analysis of China ＂s land requisition and public leasing system we argue that low-cost land acquisition is the fundamental cause of land-related distortions that have occurred during China ＂s urbanization. Granting farmers the power to negotiate directly with land users during urban expansion, combined with coordinated land tax reforms to consolidate local tax bases is the key to China achieving both equity and land use efficiency in urban expansion.     

China＇s Sovereign Wealth Fund： Weakness and Challenges

The establishment of sovereign wealth funds in large developing countries has generated hot debate among participants in the international financial market. When accumulated foreign exchange reserves surpass a sufficient and an appropriate level, the costs, risks and impacts of holding reserves on the macroeconomy of a country need to be considered. The Chinese Government established China Investment Corporation （ CIC） in 2007 to diversify its investment of foreign reserves and to raise investment income. However, because of certain conflicts of interest and institution-design caveats, CIC possesses some internal weakness, including a vague orientation, mixed investment strategies and an inefficient bureaucratic style. Although the subprime crisis has softened certain regulations and lessened rejection by the USA of ClC potential investments, the increased volatility and uncertainty of the market means that CIC is facing some new challenges in terms of its investment decisions. Moreover, CIC is competing with other Chinese investment institutions for injections of funds from the Chinese Government.     

China＇s Labor Transition and the Future of China＇s Rural Wages and Employment

This paper contributes to the assessment of China＇s rural labor markets. According to our data, the increase in off-farm employment that China experienced during the 1980s and 1990s continued during the 2000s. Our analysis shows that migration has become the most prevalent off-farm activity, although the destination of migrants is shifting from outside of one＇s province to destinations closer to home. The present paperfinds that large shares of male and female individuals, especially those under 40 years, are working off the farm. These findings represent an important contribution to the labor economics field. First, the results of the present paper reveal that the labor transition from the agricultural sector to the non-agricultural sector for key segments of China＇s rural labor force is nearly complete. Second, although a large share of China ＂s rural labor force work in agriculture, most of these workers are older men and women （and likely would not be willing to take low-wage, labor-intensive jobs）. Third, the rising unskilled wage rate in China is partially a result of the tightening of the labor force in the young age cohorts. Finally, due to factors associated with the one child policy and other demographic transition forces, successive age cohorts will continue to fall in absolute number in the coming decade. Assuming China＇s growth continues, we expect to see further wage increases since it will take higher wages to coax more workers to work off the farm.     

China＇s Urban Employment and Urbanization Rate： A Re-estimation

The present paper argues that China＇s existing population and employment statistics are misleading, and have failed to include many of the migrant and labor force flows between urban and rural areas. The paper reconciles the differences between official census data and other survey statistics and attempts to recalculate China＇s urban population and employment figures. Our analyses indicate that official statistics of 2012 underestimate China ＇s urban employment by approximately 47 million while overestimating rural employment by 31 million. The adjusted urbanization rate exceeded 55 percent in 2012, almost 3 percentage points higher than the official statistics. Nevertheless, there remains much potential for rural-to-urban migration. More specifically, if the current bottlenecks in household registration, social security and public welfare systems can be removed or relaxed, China＇s urbanization rate could rise by another l O percentage points or even more over the next decade.     

家庭养老是现阶段农村养老保障制度的主体

农村养老问题已经成为重要的社会问题,不少人士认为,通过建立农村社会养老保险制度可以解决农民的养老问题,这种观点尤其在新农保制度开始启动后得到了支持。文章通过从农村家庭养老的历史变迁、农村家庭养老存在的社会文化和经济基础及新农保制度设计等方面进行分析,认为家庭养老仍是现阶段农村养老保障制度的主体,并提出构建农村养老保障体系、发挥基层组织作用、完善农村家庭养老法律制度和加快农村经济发展等完善家庭养老的对策。     

土地使用权流转制:中国农村土地制度改革的方向

农村土地制度是农村经济社会的一项基本制度,不仅影响农业而且影响全局。改革开放以来的家庭承包经营体制在取得了令人瞩目成绩的同时,也带来了农地经营的零碎化,阻碍了农业技术的推广,从而影响了农业生产效率的提高。因此,在坚持以家庭承包为基础、统分结合的双层经营体制下,明确农民对土地使用权的独立性、利益性和转移性,允许农民在遵守有关法规政策的情况下流转,对推进社会主义新农村建设具有十分重要的意义。     

Population Ageing and Pension System Reform in China: A Computable Overlapping-Generations General Equilibrium Model Analysis

Over the next 50 years, China will face an increase of its old-age population by approximately three times. Such a demographic change may result in a large increase of pension payments, which would require a significant rise in the pension contribution rate. This also implies important intergenerational redistribution issues and may even harm living standards as a whole. This paper analyses for China the economic impact of an ageing population by means of a computable dynamic general equilibrium model with an overlapping generations structure. The paper explores the effect on the social security system and economic development of China under alternative scenarios for the benefit rates on pensions, retirement age and technological progress. Our research indicates that a pension reform plus positive technological progress can compensate for the menace of a decline in living standards for both seniors and working generations.     

强化中国城乡土地权利:整体性法律框架与政策设计

解决中国土地改革中出现问题的关键在于土地权利。应加强农民对农村土地的权利,消除农民在法律和经济上的弱势地位。加强农民对宅基地的权利,通过完善农村宅基地的法律与政策框架,规范农村宅基地转让的条件、程序、利益分配及产权。改善征地程序和补偿结果,在减少征地给个人和社区带来的困难同时,提高征地手段的效果和效率。加强城市土地使用权及其管理,建立符合市场经济机制要求的城市地权制度。     

新型农村合作医疗筹资瓶颈破解:制度解析与重构

新型农村合作医疗筹资瓶颈是制约其发展的关键和核心问题.当前新型农村合作医疗筹资困境的成因主要源于制度设计层面,其制度性缺陷主要表现在制度本身的社会保险性质的弱化;三方筹资主体的筹资责任、筹资标准、筹资比例界定难;基金监督与管理的法律依据缺失等方面.必须对制度进行重构才能实现可持续运转,而不是简单的修修补补.     

经济强县推进城乡社保一体化的模式建构——基于福建省晋江市的个案应用

＂梯次推进的动态整合模式＂的核心理念是＂应先行、需整合、分梯次、可持续＂。不管从经济发展阶段、综合经济实力,还是从社会建设的需要,晋江构建城乡一体化社会保障体系的时机已经成熟。＂梯次推进的动态整合模式＂是晋江市建构城乡一体化社会保障体系的可行模式。