January 2018

09Jan

China. THEKEY: A New Ecosystem Of Identity Verification For The Future

The blockchain has ushered in the third generation of the internet and with it, an entirely new set of requirements to participate and function in a worldwide economy and distributed online ecosystem. One of the most promising new technologies in the blockchain space is a Chinese company called THEKEY (www.THEKEY.vip) who have situated themselves as a leader in bringing your personal verifiable identity onto the internet. A decentralized app, THEKEY is built on the Neo blockchain and will provide...

January 9, 2018
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04Jan

China. More provinces mull entrusted pension investment: official

Three provinces and one autonomous region are planning for entrusted pension investment to deal with mounting payment pressure, a social security official said Wednesday. Gansu, Zhejiang and Jiangsu provinces as well as Tibet Autonomous Region are considering entrusting some of their pension funds, totaling 150 billion yuan (23.05 billion U.S. dollars), to the National Council for Social Security Fund (NCSSF) for professional investment, according to Tang Xiaoli, an official of the Ministry of Human Resources and Social Security. China is facing...

January 4, 2018
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02Jan

Insurers adapting to ageing Hong Kong and China with policies that cover longer lives

Ageing populations in Hong Kong and mainland China are leading the insurance industry to extend the age range of life products and to include cover for more diseases and for mental illness, according to a senior executive at reinsurer Swiss Re. Robert Burr, the managing director and head of life and health reinsurance client markets in Asia, told the South China Morning Post in an interview that statistics showed 25 per cent of people born today would be able to live to...

January 2, 2018
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December 2017

18Dec

Comparison of Psychosocial Factors Affecting the Demands for Pension Plans Between American and Chinese Residents

By Ruiqi Tian (Southwest Jiao Tong University - Psychological Research and Counseling Center) & Ruilin Tian (North Dakota State University - Department of Accounting, Finance, and Information Systems) Pension becomes more and more important as people are living longer and pursuing higher living quality after retirement. This paper is to analyze the psychosocial factors that affect people’s pension demands in the US as well as in China. As two representative countries that have different pension systems, cultures, value systems, family...

December 18, 2017
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11Dec

China’s pension funds struggling to cope with ageing population-state media

Thirteen pension funds in regions and administrative units around China only have enough money to pay less than one year’s worth of pensions, media reported on Monday, as the country struggles with an ageing population and shortfalls in the nation’s pension schemes. Guangxi, Jiangxi, Hainan, Inner Mongolia, Hubei, Shaanxi, Tianjin, Hebei, Liaoning, Jilin, Qinghai, Heilongjiang and the Xinjiang Production and Construction Corps can all pay less than one year’s worth of pensions to workers covered under the respective funds, the...

December 11, 2017
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November 2017

27Nov

China. Fintech energizes real economy

Chinese financial technology or fintech firms are expected to lead industry innovation and facilitate growth of small and medium-sized enterprises or SMEs in the Asia-Pacific region, said an executive of a leading Chinese fintech company. Tang Ning, founder and CEO of Beijing-based CreditEase, said tremendous development opportunities await fintech firms as well as peer-to-peer or P2P lenders in the next decade despite a stricter regulatory environment. After more than 10 years of development, China's fintech has entered the world's top league....

November 27, 2017
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20Nov

China taps state firms to buttress pensions as society ages

China on Saturday (Nov 18) announced a pilot programme to help pension schemes meet growing pressure from an ageing society by transferring shares of state-owned firms to social security funds. A document released by the country's State Council, or cabinet, said the programme would begin this year with shares of up to seven SOEs to be transferred. The plan is intended to help make up for shortfalls in the nation's pension schemes and will be expanded in 2018 to involve more...

November 20, 2017
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06Nov

China’s pensioners to get customised mutual-fund products for stock investment

China’s pensioners will have a new channel to invest in the nation’s US$7.7 trillion stock market, as the securities regulator outlines requirements for asset allocations and holding periods for a new type of mutual fund serving retirees. Such funds should adopt a strategy of “stable asset allocations” and pursue a “long-term increase in asset values”, the China Securities Regulatory Commission (CSRC) said in a guideline published on its website, inviting public feedback. The new, customised funds can invest in fund-of-funds...

November 6, 2017
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October 2017

24Oct

China. Nation to reduce disparity in pensions, expand jobs

China will continue its policies to boost employment and make further efforts to coordinate pensions across provincial regions to help cover more people, a top human resources regulator said on Sunday. "We will continue the strategy to prioritize employment, especially to integrate with macroeconomic, industrial and financial policies, to create more jobs," Yin Weimin, minister of human resources and social security, said at a news conference hosted by the press center of the 19th National Congress of the Communist Party...

October 24, 2017
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11Oct

China. Revised rules to benefit pensions

China released revised regulation on securities insurance and underwriting on Tuesday that gives insurance funds priority to subscribe to new shares offline, a move to benefit the public and improve market-oriented stock pricing. The revised regulation said at least 40 percent of new shares placed offline should first seek public offering funds, social security funds, and basic pension funds, according to the official website of Legislative Affairs Office of the State Council. It added that a certain proportion of new shares...

October 11, 2017
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