China Drafts Tough Rules for Insurers to Join National Personal Pension Scheme, Sources Say

China has drafted tough requirements that insurance companies would need to meet to participate in the state-backed personal pension scheme, industry sources with knowledge of the matter told Caixin, with analysts estimating that only fewer than 30 firms would be eligible.

The China Banking and Insurance Regulatory Commission (CBIRC), the country’s top insurance watchdog, issued draft rules to nearly 100 life, health or pension insurers late last month, said the sources.