Skip to main content

Beijing’s ‘time bank’ lets adults care for elderly and earn support when they become old

by Sangam Paudel, Feb 2
1 minute read

The city of Beijing will introduce a ‘time bank’ scheme whereby an adult can earn credit by providing volunteer care for the elderly, which can then be redeemed to receive care when they themselves turn 60.

man sitting near door way reading paper

So what?

The population of older citizens in Beijing is expected to grow as the country’s birth rate continues to drop. Like many similar nations, China will thus have to address the need to provide increased elderly care, with fewer younger people in its population mix, in the future. Beijing’s move to introduce a ‘time bank’ is an effort to create a sustainable cycle of elderly care at the societal level.

Other countries with similar age demographics have relied on additional workforce from elsewhere to fill this gap. For instance, Australia recently announced financial incentives to lure international students to the country to fill critical workforce shortages in sectors such as healthcare and aged care.

Whether it be by promoting immigration of students who overwhelming join the health care sector, or by developing incentive mechanisms to support the elderly, more countries with their aging demographics will have to address the issue of elderly care in the future.



by Sangam Paudel Spotted 92 signals

Have you spotted a signal of change?

Register to receive the latest from the Futures Centre.
Sign up

  • 0
  • Share

Join discussion

Related signals

Our use of cookies

We use necessary cookies to make our site work. We'd also like to set optional analytics cookies to help us improve it. We won't set optional cookies unless you enable them. Using this tool will set a cookie on your device to remember your preferences.

For more detailed information about the cookies we use, see our Cookies page.

Necessary cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytics cookies

We'd like to set Google Analytics cookies to help us to improve our website by collecting and reporting information on how you use it. The cookies collect information in a way that does not directly identify anyone. For more information on how these cookies work, please see our 'Cookies page'.