Covid-19 dashes hopes of China pensions' offshore push
Local governments are giving more pension funds to the state pension manager to improve returns, but Beijing will unlikely loosen its grip on the requirement they invest solely onshore.

Local governments in China are accelerating their transfer of provincial pension assets to the National Council for Social Security Fund (NCSSF). However, it is unlikely these assets will be invested overseas any time soon, courtesy of Beijing’s inclination to keep the assets on-tap amid the pandemic and its desire not to let onshore funds invest into an increasingly hostile US.
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