The social problems that aging may bring are problems that we have to face now. In order to control the population, China has formulated and implemented a strict family planning policy since 1982. Our population growth rate has been well controlled, but it also leads us to enter an aging society prematurely. As a free trade port, Hainan can make more innovations in pension commercial insurance and pension finance. This is of positive significance for us to explore the pension system.

1. Support the development of Hainan Free Trade Port and position Hainan as a free trade port. Since it is a free trade port, the greater the development space. We should seize this opportunity to encourage securities, insurance, funds and other industries to develop in Hainan. Hainan can provide loose relevant policies, so that all walks of life will have greater opportunities for innovation. In order to cope with the problem of social aging, Hainan can give active support in this regard.

Second, the old-age commercial insurance needs to be actively explored. Our society is rapidly entering an aging society. In this case, the insurance industry can actively develop some pension-related commercial insurance. This will help reduce the pressure on children to support their parents. The development of commercial insurance in medical health and long-term care is still very promising. The only child in society can use commercial insurance to transfer the risk of providing for the aged to commercial insurance. The market of commercial insurance in providing for the aged is still very large.

Third, the pension industry needs innovation. The pressure we face for providing for the aged is still great. The birth peak in China is between 1962- 1976. People born in 1962 are now 59 years old and will soon face the problem of retirement.

In order to cope with the coming pressure of providing for the aged, the current pension industry needs to carry out various forms of innovation in order to actively gain useful experience in providing for the aged.

Ladies and gentlemen, what do you think of the two departments' support for the development of Hainan securities, insurance, funds and other industries? You can leave a message in the comments section.