September 2023
13Sep

China can’t just rely on boosting births to address aging population issues, Renmin University professor says

China can't just rely on increasing childbirths to address its aging population issues, said Du Peng, vice principal of Renmin University of China. Regardless of how many children are born in China, the number of people who are aged 60 and above will roughly double to more than 500 million in the year 2050, he told reporters during a talk on Wednesday. To minimize the economic impact of such population changes, he said policymakers can take action today: by raising the...

September 13, 2023
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01Sep

Family Planning Confronts Delayed Retirement in China: The Retirement Intention of Only-Child Parents

By Xiao Yu, Yingdong Xu, Yue Sun & Luyao Jiao By establishing a labor-retirement model within China’s unique intergenerational support culture and one-child policy, this study provides evidence of the one-child policy’s early effect on individuals’ retirement decisions. This finding highlights a contradiction between the retirement intentions of the 1960s and 1970s generations, who are most affected by the one-child policy, and the delayed retirement policy of Chinese government. Utilizing data from the CHARLS 2011-2018 and employing OLS, IV, and...

September 1, 2023
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01Sep

Canada’s largest pension fund trims staff as it puts China deals on hold

CPP Investments, Canada's biggest pension fund, has laid off at least five investment professionals at its Hong Kong office as it steps back from deals in China, three people with knowledge of the matter said. Most were on the fund's private equity team and were informed early last month, according to two of the people. The departures have not been previously reported. They added that a managing director who was in charge of the firm's Greater China real estate portfolio had...

September 1, 2023
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August 2023
31Aug

China: Manulife-Sinochem Life launches its first private pension insurance plan

Manulife-Sinochem Life Insurance, China's first foreign joint venture life insurer, has introduced its No. 1 private pension insurance product to cater to the aging population. The Chinese JV of the Canadian financial giant launched the Worry-Free Retirement Pension Annuity which grows at an average compound annual rate of 3% if chosen to be received yearly, Yicai Global reported, citing a media statement from the Shanghai-based joint venture. Eligible participants can furthermore enjoy concierge services, as well as home-based or community-based care. "The introduction...

August 31, 2023
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23Aug

US. CalPERS CIO Nicole Musicco says pension fund taking cautious approach to China

The California Public Employees' Retirement System is being cautious in its approach to China because of the political blowback it could face for betting on a geopolitical rival of the U.S., according to Chief Investment Officer Nicole Musicco. "We're being mindful about our exposure in China right now," Ms. Musicco said during an episode of "Bloomberg Wealth with David Rubenstein" — and she added that the pension fund giant is taking pains to "avoid having any big losses if we...

August 23, 2023
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03Aug

Bill Blocks Pensions, Endowments from Investing in ‘Techno-Totalitarian’ China

For instance, they say divestment from fossil fuels blunts performance and hurt investors, and investment managers should only focus on “pecuniary” factors in their evaluation of a potential position. The GOP has gone so far as to sue to prevent ESG from being implemented in several state pension funds, and House Speaker Kevin McCarthy proclaimed that ESG allows investment managers for many workplace retirement plans to “push a political agenda at the expense of retirement savers.” Yet the politicization of the...

August 3, 2023
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July 2023
23Jul

China pensions reform: Winning strategies for global asset managers amid evolution in retirement market

By Asifma Major reforms to the Chinese Mainland’s pensions system are creating new opportunities for asset managers. This report, jointly authored by KPMG China and ASIFMA, explores the background to China’s evolving three-pillar pensions system and the demographic factors that necessitated the current reforms, and shares insights from market players on the challenges as well as the opportunities. Pillars 2 and 3 of the pensions assets industry in China could grow to as much as 15-21 trillion RMB by 2030 under...

July 23, 2023
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17Jul

China to expand national pilot project for hospice care, further improve humanistic care for elderly with an aging society

China will expand its national pilot project for hospice care with a third batch of pilot areas, further improving humanistic care for the elderly and the terminally ill across the country, a move to cope with the nation's rapidly aging population. China's National Health Commission (NHC) has issued a notice announcing the third batch of places, which include three provincial-level places - Beijing, East China's Zhejiang, Central China's Hunan - and another 61 cities or districts such as Nankai district...

July 17, 2023
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13Jul

China’s $400 Billion Pension Sends New Warning on Debt Risks

One of China’s biggest state-run investors is adding to the chorus of warnings over debt risks at the nation’s cash-strapped developers and local government financing vehicles. The National Council for Social Security Fund, which oversees about $417 billion according to the latest available figures, has advised asset managers that handle its money to sell some bonds including those from riskier LGFVs and private developers after a review, people familiar with the matter said, asking not to be identified discussing private...

July 13, 2023
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04Jul

The Silver Wave: China’s Rapidly Aging Population and the Rise of Elderly Education

By 2030, 1 in 6 people in the world will be aged 60 years or over. By 2050, the world’s population of people aged 60 years and older will double (2.1 billion). The number of persons aged 80 years or older is expected to triple between 2022 and 2050 to reach 600 million. China has one of the fastest-growing aging populations in the world. There were 280 million people aged 60 and above in China at the end of 2022,...

July 4, 2023
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