From security to spending: how China’s long-term care insurance pilot drives urban household consumption

These findings highlight the economic significance of long-term care system reform. Beyond meeting the care needs of an ageing population, the long-term care insurance pilot serves as a policy tool to stimulate consumption, promote employment, and narrow regional disparities. The spatial spillover effects suggest that scaling up the program may generate broader regional benefits, providing valuable insights for the further development of China's care system and social security reform.