China’s race to upgrade its retirement options
The country is attempting to rapidly reform its pension system after failing to do enough for years. It needs to move quickly, to avoid growing poverty.
![China’s race to upgrade its retirement options](https://cdn.i.haymarketmedia.asia/?n=asian-investor%2Fcontent%2FScreen%20Shot%202018-09-18%20at%206.24.43%20pm.png&c=1&h=677&q=100&v=20240001&w=1204)
Building a national public pension system, potentially letting corporate pensions invest overseas, opening up the pension business to insurers and fund managers; China is sparing no effort to build a multi-layered system to meet the retirement needs of its 1.4 billion population.
But it’s in a race against time. The number of Chinese citizens aged 60 or above reached 241 million by the end of 2017, representing 17.3% of the country’s total population. The China National Committee…
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