On October 31st, the Faculty of Finance was honored to invite Professor Jow-ching Tu from the Hong Kong University of Science and Technology to conduct a lecture entitled "The Future of the Public and Private Support System in Asian Societies". Executive Dean Michael Chng of the Faculty of Finance and many teachers and students of the faculty attended the lecture. On behalf of the Faculty of Finance, Professor Chng presented a souvenir to Professor Jow-ching Tu.
By providing detailed data, Professor Tu first illustrated the expansion of population in Asia since 1950 and the changes in the fertility rate and population burden coefficient, highlighting the seriousness of the population aging problem. Professor Tu then analyzed the impact of an aging population on the labor market, social security, etc. He pointed out that the income sources of the elderly after retirement are mainly income from labor, government transfer payments, maintenance payments and asset income, and compared the main countries in the world. In the end, Professor Tu put forward suggestions and solutions for improving the social security for the elderly population from a professional perspective.
Professor Tu’s excellent lecture aroused great interest and thoughts among the audience. During the lecture, the teachers and students actively asked questions and exchanged views and opinions with Professor Tu. They considered the lecture an invaluable one.
