Feldstein, Martin2009-04-131999Feldstein, Martin. 1999. Social security pension reform in China. China Economic Review 10, No. 2: 99-1071043-951Xhttp://nrs.harvard.edu/urn-3:HUL.InstRepos:2794835China has legislated a mixed social security pension system with a defined benefit pay-as-you-go portion and an investment-based defined contribution portion. This paper analyses the economics of these two types of systems in the Chinese context and calculates the advantage to China of using an investment-based portion. Several options for reform of the recently legislated system are considered.en-US10.1016/S1043-951X(99)00007-3