with china entering the aging society and many of its senior citizens confronting the issues of losing the ability to live on their own, yu xubo, a deputy to the 13th national people's congress and also the chairman of china general technology (group) holding co ltd, suggested the government to promote the long-term care insurance for china’s pension industry in the whole country as soon as possible.
apart from meeting the long-term care needs of the country’s elderly population, especially those having difficulties to look after themselves, this move will mitigate risks caused by the long-term care burden in the society in the future, said yu, adding from a development perspective, it will help solving the payment problems occurred in china’s social pension services and enrich the national social security system.
at the fourth session of the 13th national people's congress held in beijing in early march, yu proposed the country’s top legislator to incorporate the long-term care insurance system into the social insurance law of the people's republic of china and implement the long-term care insurance system nationwide as soon as possible, establish a standardized system for financing and providing benefits, and define the coverage and service content of the long-term care insurance.