February 2019

26Feb

Chinese firms led global fintech investments in 2018

Chinese companies accounted for almost half of all fintech investments globally last year, according to a report by consulting firm Accenture. Global investment in financial technology (fintech) companies more than doubled to $55.3 billion in 2018, with China making up $25.5 billion in transactions. «Even with the current volatility in global markets and ongoing macroeconomic concerns, investment in the fintech sector remains strong,» said Richard Lumb, group chief executive for financial services at Accenture. Overall, the number of...

February 26, 2019
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January 2019

31Jan

Pension Milestones: China, Hong Kong, Taiwan and Macau take key steps in 2018

Pension experts from China, Hong Kong, Taiwan and Macau exchanged views and shared best practices on pensions and retirement savings issues across the region at the 10th Annual Cross Strait Pension Forum hosted by Hong Kong Retirement Schemes Association (HKRSA). The implementation of a Central Provident Fund (CPF) in Macau and the introduction of a tax deferral scheme for private pensions in China were among key milestones in 2018 for the pension sector, according to HKRSA Chairman Janet Li....

January 31, 2019
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30Jan

Chinese city seeks young blood: how ageing Nanjing lures new talent

“Nanjing has for the first time entered the phase of an ‘aged-society’, and the city’s burden of looking after both the young and the old is getting greater,” Zhao Jun, deputy director of the local statistics bureau, said last year. The burden of social support and caregiving will face “steep growth” until 2050, he warned. Hence Nanjing’s desire to boost its population of educated under-40s such as Tan. It is not alone: last year, more than 20 Chinese cities...

January 30, 2019
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07Jan

China approves 14 new pension target funds

China has approved the country's third group of pension target funds, allowing 14 more such funds to play a bigger role in meeting the retirement planning needs of an aging population. E-Fund Management, an asset management company based in Guangzhou, obtained approvals for issuing two more such funds while 13 other fund management firms including China Southern Asset Management and China Asset Management were authorized to issue one more each, according to the China Securities Regulatory Commission. The new...

January 7, 2019
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December 2018

19Dec

How China got a head start in fintech, and why the West won’t catch up

Payment apps like Alipay and WeChat transformed daily life in China. The West won’t see a similar payments revolution—and that might even be a good thing. In 2013 I moved from Paris to Beijing to study China’s financial system. I stayed for two years and became fluent enough to translate economics books from Mandarin into English and give talks on monetary policy in Mandarin. But I never really felt I fit in until I visited again and Alipay finally approved me...

December 19, 2018
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03Dec

Can Information Influence the Social Insurance Participation Decision of China’s Rural Migrants?

By John Giles (World Bank; IZA Institute of Labor Economics; World Bank - Development Research Group (DECRG)), Xin Meng (Australian National University; IZA Institute of Labor Economics), Guochang Zhao (Southwestern University of Finance and Economics (SWUFE)) This paper uses a randomized information intervention to shed light on whether poor understanding of social insurance, both the process of enrolling and costs and benefits, drives the relatively low rates of participation in urban health insurance and pension programs among China's rural-urban migrants....

December 3, 2018
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November 2018

06Nov

China. Equity group to improve pension investment environment

China Jianyin Investment Ltd, or JIC, an investment group focused on equity, will develop pension finance and pension service systems, aiming to improve the environment of the pension investment industry according to the company's top management. "With people's growing reliance on the third pillar of the pension system, individual pension investment will become a crucial process for personal wealth management," said Zhou Xiangyong, managing director of Guotai Asset Management, a key member of JIC. "As a result, the company will...

November 6, 2018
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01Nov

China. Aging population to boost individual pension market

The individual pension market in China will see great development potential in the future due to increasing pressure from an aging population and growing market demand, according to industrial experts. "With the increase in national income and people's growing awareness to save the pension reserve, China's personal pension market, which is the third pillar of the country's pension system, will see tremendous opportunities," according to Dong Keyong, secretary-general of the China Ageing Finance Forum, or CAFF50. The volume of the individual...

November 1, 2018
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October 2018

22Oct

The Chinese Pension System

By Hanming Fang (University of Pennsylvania - Department of Economics; National Bureau of Economic Research (NBER)) & Jin Feng (Fudan University - School of Economics) We provide a detailed overview of the current state of the Chinese pension system, as well as its development, its problems and some ideas for future reforms. (more…)

October 22, 2018
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12Oct

Canada pension fund to lift China investment

CPPIB plans to increase funding across country as it eyes long-term market opportunities from growing middle-income group, aging population By 2025, Canada Pension Plan Investment Board plans to have 20 percent of its estimated C$800 billion ($612 billion) assets invested in the Chinese mainland, Hong Kong, Macao and Taiwan, said Mark Machin, president and CEO of CPPIB. "It's a sensible thing to increase our supply to this market. We are building expertise, and we think valuation is not perfect in this...

October 12, 2018
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