Experts from HRSS had discussed carrying out the proposal of extending retirement age to 65 years old, but the discussion was stopped mainly because of the pressure of young people employment.

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Minister of Chinese Ministry of Human Resources and Social Security (HRSS) said, in the following five years, Chinese college graduates population will keep being around 7 million, which makes China under huge pressure of employment.

According to statistics from HRSS, by 2020, China's population of working aged will achieve 831 million, which means in a long time, the country will face huge employment pressure.

 In the summer of 2013, 6.99 million college students will graduated, and in the following five years, each year about 7 million college students will join in the working market, accounting for about half of all of China's annual working force. If includes graduates from high schools, vocational schools and veterans, about 16 million young people each year will get into the job hunting market in China, while at the same time, China faces the risk of economy growth decline.

An staff from a university in Beijing said that in the second half year of 2012, they saw significant difficulties of graduates employment, the rate of student who signed working contract is obvious lower compared with former years.

According to the related regulation right now, Chinese men aged 60 years, female cadres aged 55 years and other women age 50 years could apply for retirement. There are wide discussions on whether this regulation should be changed. When the regulation was made, the average lifetime of Chinese was 50 years old, while right now, it is over 70 years old.

Release information from The National Working Committee Office on Aging shows that by the year 2020, population of Chinese old aged people will get to 248million, which will account for 17.17% of all its population.