How to develop the Time Bank for Old-Age Service in Less Developed Areas: A Comparison of Nanning and Nanjing

Abstract

With the rapid economic growth, China has officially entered into an aging society and is facing the severe challenge of a population aging crisis. China has begun implementing the Time Bank for old-age service to address the aging problem better. However, Time Bank is usually developed in economically developed regions, and Time Bank is not set in less developed areas. This paper compares and analyzes the operation mechanism of the Time Bank in Nanning from five perspectives: policy support and funding sources, operation model, volunteer team construction, Time Banking platform construction, and service projects. The proposed measures for developing Time Bank in less developed regions fill a problem gap. China needs to address the risk of population aging actively. This is important for China to solve its pension problem and deepen the understanding of Chinese academia on the development of time banking in less developed regions.