Elderly Chinese at a park in Beijing on November 3, 2006. China faces problems in caring for its rapidly increasing elderly population. The number of rural residents aged over 60 is increasing by 850,000 annually and is expected to hit 120 million in 20 years, according to China's Xinhua News Agency. Photo: AP

China transfers US$4.7 billion of PICC shares to state pension fund, part of a programme to shift assets to make up for shortfall

  • China is facing a widening shortfall in pensions schemes as the population ages and debt pressure rises
Topic |   PICC

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Elderly Chinese at a park in Beijing on November 3, 2006. China faces problems in caring for its rapidly increasing elderly population. The number of rural residents aged over 60 is increasing by 850,000 annually and is expected to hit 120 million in 20 years, according to China's Xinhua News Agency. Photo: AP
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