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POLITICS & LAW

China to Appropriate State Company Assets to Make Up Pension-Funds Gap

A Ministry of Finance document said that the move
A Ministry of Finance document said that the move "demonstrates that state-owned companies are owned by all people and should benefit all people." Photo: Visual China

China will set aside part of state-owned enterprises’ assets to make up the shortage of money in the nation’s pension funds due to an increasingly aging population, according to a statement released by the state government on Saturday.

Some state-owned companies will transfer 10% of their stakes to the pension fund in the first stage, the document released by the State Council, or China’s cabinet, said.

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