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Positive response

"It is good that the retirement age delay policy has taken effect. Women have had their second prime of life around the age of 50. Take female senior technical experts for example. Not only have they accumulated rich experience through years of work, they are also physically competent and vigorous after having been freed from worries about their grown-up children," said Zhang Lihui, head of Conservatory of Music in Chongqing Normal University.

"Therefore these female experts can still make a considerable contribution to their professions and society. It would be a waste of resources if female officials and technical experts are asked to retire," Zhang added.

Here are other highlights of the news conference.

Investment plan for pension fund

China is mulling a diversified investment scheme for the massive pension fund with professional help to boost the value of the fund, Yin said.

"The future investments of the fund will be diversified to avoid putting all the eggs in one basket. Investments will include bank deposits, treasury bonds, projects with good prospects, among others," he told reporters.

"We will give full play to the market mechanism and use help from professional investment agencies to avoid risks in investment," Yin added.

Employment

China is faced with a more complex and arduous task of ensuring employment in 2015 against the backdrop of an economic slowdown, Yin said.

About 15 million young students need to find jobs in 2015, consisting of 7.49 million college graduates and a similar number of those graduating from vocational, technical schools or middle schools, according to the minister.

Another 3 million surplus labor force in the rural areas will be seeking employment in towns and cities.