CHINA

Trillion-Yuan Bond Proposal Calls for Beijing to Pay Young Workers’ Benefits

Published: Jan. 7, 2026 9:30 p.m. GMT+8

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Faced with a slowing economy and a persistent slump in youth employment, a group of Chinese labor economists has proposed a sweeping stimulus measure: having the central government pick up the social-security tab for young workers.

The proposal, presented recently at the annual meeting of the Employment Promotion Professional Committee, calls for Beijing to issue 1.45 trillion yuan ($207.35 billion) in special treasury bonds annually to fund social insurance subsidies for all employed citizens aged 21 to 26.

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Chinese economists propose Beijing cover social-security costs for 67 million workers aged 21–26 via 1.45 trillion yuan ($207B) in annual special bonds from 2025–2029.
The plan aims to reduce private sector costs by 1 trillion yuan yearly, offer workers 450 billion yuan in annual relief, and potentially create 3.4 million jobs per year.
Total projected five-year cost is 7.2 trillion yuan ($1.03T), raising the debt-to-GDP ratio by 0.05 percentage points.

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