Senior people outside a community elderly care centre in Suzhou, in east China’s Jiangsu Province, in December, 2020. The personal pension scheme aims to provide China’s ageing population with more investment options. Photo: Xinhua
Senior people outside a community elderly care centre in Suzhou, in east China’s Jiangsu Province, in December, 2020. The personal pension scheme aims to provide China’s ageing population with more investment options. Photo: Xinhua

China’s private pension scheme to draw US$17.8 billion a year from savings accounts into asset management

  • The scheme, unveiled in April, will swell the asset-management market by 120 billion yuan per year, analysts predict
  • China Citic Bank has joined the financial institutions seeking to benefit while helping Chinese citizens move their vast savings into investment vehicles

Senior people outside a community elderly care centre in Suzhou, in east China’s Jiangsu Province, in December, 2020. The personal pension scheme aims to provide China’s ageing population with more investment options. Photo: Xinhua
Senior people outside a community elderly care centre in Suzhou, in east China’s Jiangsu Province, in December, 2020. The personal pension scheme aims to provide China’s ageing population with more investment options. Photo: Xinhua
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