Source: OT-Team(G)，北大中外人文交流
Could China become a new retirement destination for foreigners?
Jia Qingguo, a standing member of the Chinese People's Political Consultative Conference (CPPCC) and a professor at Peking University's School of International Studies, has submitted a proposal advocating for a conditional retirement visa for foreign nationals in China. Below are the key points of his proposal.
Why Consider a Retirement Visa?
With global aging accelerating, the number of retirees seeking to settle abroad is increasing. The world's population aged 60 and above has surpassed one billion, and the high-net-worth retirement market is expanding at an annual rate of 8%. More than 30 countries, including Thailand, Malaysia, and Portugal, have introduced specialized retirement visas to attract foreign retirees, leveraging their spending power to boost local economies.
Jia argues that if China were to selectively open its doors to foreign retirees, it could bring economic benefits, address real estate imbalances, and enhance China's global engagement.
Potential Benefits Highlighted in the Proposal
1. Economic Growth & Elderly Care Development
(1)Foreign retirees typically have stable pension incomes and strong spending power. For example, Thailand's retirement visa holders spend an average of $24,000 annually—significantly more than regular tourists. If China attracted 50,000 such retirees each year, it could generate over $1.2 billion in additional spending in healthcare, wellness, and cultural sectors.
(2)Encouraging retirees to rent or purchase properties in China could help address housing market imbalances in certain cities.
(3)Increased demand for high-quality elderly care services could drive industry upgrades, especially in specialized care such as dementia treatment and smart senior living communities.
2. Encouraging Technological & Knowledge Exchange
Many foreign retirees have professional expertise, particularly in science and technology. Even after retirement, they could contribute to China's innovation ecosystem through advisory roles, helping foster knowledge exchange and collaboration.
3. Enhancing International Cultural Exchange
Allowing foreign retirees to live in China could deepen cultural and social ties between China and other countries, as these individuals would gain a firsthand understanding of Chinese society and policies, potentially fostering goodwill and mutual understanding.
Key Policy Suggestions
Jia's proposal suggests that relevant authorities, such as the National Immigration Administration, should explore the feasibility of a Foreign Retiree Residency Management Regulation and international promotion efforts. The proposal outlines several key recommendations:
(1)Visa Type & Duration: A standard retirement visa could offer an initial stay of 1–3 years, with renewals based on compliance. Long-term or permanent residency could be considered for those meeting specific conditions, such as long-term residence, significant contributions, or major investments.
(2)Eligibility Criteria:
① Minimum age requirement (e.g., 50 years old).
② Proof of financial stability, such as a minimum bank deposit or pension income.
③ Health certification confirming the absence of serious infectious diseases.
④ Clean criminal record.
(3)Support Measures:
① Mandatory private health insurance or proof of overseas insurance coverage in China.
② Community support services tailored for foreign retirees.
③ Legal frameworks to ensure rights protection and proper management.
While this proposal has yet to gain official traction, it sparks an interesting discussion: Would China benefit from welcoming foreign retirees? And would retirees consider China as a destination? Let us know your thoughts!
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