Using Tax Policy to Promote the Development of China’s Pension System

Abstract

Since entering the 21st century, China's society has gradually developed towards an aging society. The large number of elderly people and diversified service needs have become one of the urgent problems to be solved in today's society. In order to ensure the stability of social development, China's elderly care service industry is gradually rising with the aging of the population. During the "Twelfth Five Year Plan" period, the elderly care system of "home based, community based, institution supplemented, and combination of medical care and nursing care" has made great achievements in the development of China's elderly care service industry. It provides a certain system guarantee to solve the problems of home care and self-worth realization of this vulnerable group. However, the development of elderly care services in China is still lagging behind, and tax policies are needed to promote the development of the elderly care system in China. This paper will discuss the important role of tax on China's development, the current status of tax policies in the elderly care service industry in China.