China raises basic pension payments by 5%

China will raise the basic pension payments for retirees in 2020, the 16th consecutive year of increase.

From the beginning of this year, the average monthly payment for pensioners of enterprises, government agencies and public institutions will be lifted by 5 percent from the 2019 level, the Ministry of Human Resources and Social Security said on April 17.

The increase is the same as the rise made last year.