Liu Changhai

Media commentator

Though an aging society is approaching us, it is still impossible for society to shoulder the whole responsibility of caring for the elderly in the near future due to the economic situation and China’s tradition of providing for one’s elderly parents. Families play an indispensable role.

However, one cannot dismiss the fact that young people living in cities already have to bear a heavy financial burden. Offering tax cuts to young people who live with their parents in cities will lessen their burden.

In fact, there are examples of such practice in the world. In Germany, if the younger generation live with the elder generation, the family can enjoy tax reductions and discounts on bank loan interest rates when buying a house. At the institutional level, South Korea and Japan also encourage families to care for their elderly parents.

Human beings are emotional creatures. No matter how perfect the social security network is, it cannot take care of senior citizens’ emotional needs. As long as it is affordable, enjoying a retired life at home with one’s children is always the best choice.

The policy is a positive guide. There should be more preferential regulations on caring for the elderly so that extended families can enjoy more economic support and retired people can live an emotionally fulfilling life.