China raises basic old-age pension

China has raised basic old-age pension.

Starting from the beginning of this year, the general level of monthly payment for pensioners from enterprises, government agencies and public institutions has been lifted by 6.5 percent from 2015, said a statement by the Ministry of Human Resources and Social Security and Ministry of Finance on Friday.

The improvement marked the 12th straight year of pension raise.

To set the level, multiple factors are taken into consideration, including growth, workers' incomes and fiscal revenue, according to the statement. Endi