Chinese Positive about Retirement Years

A survey by HSBC found that 62 percent of Chinese surveyed believe they will have a better life in retirement than their parents, the second highest rate of optimism recorded in the world after India. This figure is also 11 percent higher than the global average. The sample consisted of 17,000 wage-earners in 17 countries and regions across the world.

Analysts say optimism among Chinese workers is the natural result of the country's rapid economic growth. As many as 78 percent of those surveyed think they are well prepared for their retirement, and one quarter expect pension insurance to be their primary source of income in their post-work years. Of all the financial strains expected after retirement, supporting their parents appears to be the top concern, which was cited by 29 percent of Chinese. This is the highest incidence of this concern recorded anywhere in the world.