China proposes rules to regulate private pension investment via mutual funds

SHANGHAI : China's securities regulator proposed rules to regulate private pension investment via mutual funds, setting the criteria for qualified products and sales agents under a scheme that will channel fresh savings into the country's capital markets.

Under the scheme, eligible Chinese citizens can buy mutual funds, savings deposits and insurance products via their own individual pension accounts, potentially boosting a pension market that has lured foreign asset managers including Fidelity International and BlackRock. Initially, pension target funds with at least 50 million yuan of assets over the past four quarters are eligible under the pilot pension scheme, the CSRC said.

Currently, there are 91 pension target funds that meet the CSRC's criteria, according to TF Securities.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China asks foreign business leaders how to revive Hong Kong in rare movestraits_times It's not just quarantine but, sure, go with that... Simple, just give it back to the UK. 😆
Source: STForeignDesk - 🏆 4. / 71 Read more »

China coal industry groups call for stable supply over summer - state mediaSHANGHAI : Two Chinese coal industry associations called on coal enterprises to increase production, make emergency supply guarantee plans, and 'make every effort to ensure the safe and stable supply of coal' this summer, state media outlet Securities Times reported late on Thursday.Power consumption has
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »