China’s reform of its pension scheme is vital given its rapidly ageing population and declining birth rate, which are putting pressure on the existing system. Photo: AFP
China’s reform of its pension scheme is vital given its rapidly ageing population and declining birth rate, which are putting pressure on the existing system. Photo: AFP
Insurance

HSBC, AllianzGI, Manulife, Prudential eye China’s US$1.5 trillion private pensions as Beijing cuts industry shackles in world’s fastest-ageing economy

  • China’s private pension market is estimated to be worth around 10 trillion yuan (US$1.5 trillion) by 2030, according to McKinsey & Co
  • The CBIRC publishes rules that would allow large insurers to take part in the scheme, as long as they meet certain criteria

China’s reform of its pension scheme is vital given its rapidly ageing population and declining birth rate, which are putting pressure on the existing system. Photo: AFP
China’s reform of its pension scheme is vital given its rapidly ageing population and declining birth rate, which are putting pressure on the existing system. Photo: AFP
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