Caixin
Sep 09, 2021 06:14 AM
FINANCE

Four Things to Know About China’s New National Pension Insurance Company

A senior nursing home in Nanjing.
A senior nursing home in Nanjing.

China’s new national pension company gained regulatory approval Wednesday, and a veteran banker and a senior forex official were nominated to run the 11.15 billion yuan ($1.72 billion) pension fund.

The state-owned pension institution was created to address a massive funding gap as China’s rapidly aging population and shrinking workforce put more pressure on the state pension system’s finances.

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