Landmark day beckons for China’s pensions system

Tomorrow stands to be a landmark day for China’s public pensions industry with the National Social Security Fund (NSSF) set to ink an investment mandate to manage Rmb100 billion with the Guangdong government, a senior source tells AsianInvestor. The move is seen as a first step to badly needed reform of the country’s entrenched pensions system. It will be the first time an experienced manager such as the NSSF will be permitted to manage provincial pension assets. Investment is set…