China proposes rules to regulate private pension investment via mutual funds

25/6/2022 4:44:00 PM

China proposes rules to regulate private pension investment via mutual funds

China proposes rules to regulate private pension investment via mutual funds

SHANGHAI : China's securities regulator proposed rules to regulate private pension investment via mutual funds, setting the criteria for qualified products and sales agents under a scheme that will channel fresh savings into the country's capital markets. The draft rules, published by the China Securities

SHANGHAI : China's securities regulator proposed rules to regulate private pension investment via mutual funds, setting the criteria for qualified products and sales agents under a scheme that will channel fresh savings into the country's capital markets.

The draft rules, published by the China Securities Regulatory Commission (CSRC) late on Friday, came after Beijing in April launched a milestone private pension scheme to tackle challenges of aging population.Under the scheme, eligible Chinese citizens can buy mutual funds, savings deposits and insurance products via their own individual pension accounts, potentially boosting a pension market that has lured foreign asset managers including Fidelity International and BlackRock.

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LinkedIn SHANGHAI : China's securities regulator proposed rules to regulate private pension investment via mutual funds, setting the criteria for qualified products and sales agents under a scheme that will channel fresh savings into the country's capital markets.Anthony Albanese Australian politician CANBERRA, Australia (AP) — Australia had fired the “first shot” in its deteriorating relations with China four years ago when the then-government banned Chinese-owned telecommunications giant Huawei from rolling out the country’s 5G network due to security concerns, a Chinese ambassador said on Friday.Copy to clipboard https://str.LinkedIn TOKYO : Japan's factory output probably fell in May for a second successive month due to supply chain disruptions caused by strict COVID-19 lockdowns in China, a Reuters poll showed on Friday.

The draft rules, published by the China Securities Regulatory Commission (CSRC) late on Friday, came after Beijing in April launched a milestone private pension scheme to tackle challenges of aging population. Under the scheme, eligible Chinese citizens can buy mutual funds, savings deposits and insurance products via their own individual pension accounts, potentially boosting a pension market that has lured foreign asset managers including Fidelity International and BlackRock. The address comes as China shows signs of thawing a diplomatic deepfreeze of Australian ministers following the election of a new government last month. The proposed rules"have set a relatively high bar for products and institutions, and are designed to ensure safety of pension fund investment and protect investors' interest," the CSRC said in a statement on its website. They said the chambers responded with one overriding message: End quarantine altogether as soon as possible. Initially, pension target funds with at least 50 million yuan ($7. But Xiao highlighted the government’s 2018 decision to block Huawei from Australia’s 5G rollout as a turning point in the relationship.48 million) of assets over the past four quarters are eligible under the pilot pension scheme, the CSRC said. "Bottlenecks from the semiconductor crunch and the components shortage due to China's Shanghai lockdown likely kept (Japan's) production weak," said Shumpei Fujita, economist at Mitsubishi UFJ Research and Consulting.

Other types of retail funds with clear investment strategies and good long-term track records will be gradually added to the eligibility list as the scheme expands, the CSRC said. Chinese Premier Li Keqiang wrote to congratulate Australian Prime Minister Anthony Albanese days after his election victory in a gesture seen by some as China seeking to reset the relationship. One person who attended one of the meetings said it was conducted in English, lasted 90 minutes and included Mr Wang Danfeng, a key member of the economic department. Currently, there are 91 pension target funds that meet the CSRC's criteria, according to TF Securities. In addition, fund managers and sales agents participating in private pension business must set up internal control systems, adopt long-term incentives, and ensure independent operation of the pension assets, according to the rules. Wei Fenghe had an hourlong meeting with his Australian counterpart Richard Marles on the sidelines of a regional security summit in Singapore this month in the first minister-to-minister talks between the two countries in more than two years. Independent consultancies estimate China's private pension market will grow to at least $1. The listening campaign came weeks before Mr Lee takes office on July 1, and reflects China's increasing concern about poor economic data on both sides of the border.7 trillion by 2025, from $300 billion currently. “China, already there have been some improvements. The poll also found Tokyo's core consumer price index - a leading indicator of Japanese price trends - was likely 2.

In 20 years, 28 per cent of China's population will be more than 60 years old, up from 10 per cent today, making it one of the most rapidly-aging populations in the world, according to the World Health Organization. ($1=6. It will be a problematic relationship,” Albanese told Australian Broadcasting Corp on Thursday. China's strict zero-Covid policy employing mass testing drives and lockdowns has also punished the mainland's economy.6878 Chinese yuan renminbi) Source: Reuters .