NSSF set to manage more provincial pension assets

Local governments in China are very likely to entrust more pension assets into hands of the National Social Security Fund (NSSF) after provincial assets managed by the latter more than doubled last year, according to industry experts. The move is probably lead NSSF to farm out some of these additional assets to local third-party asset managers, which will drive their pension coverage businesses. Many of China’s 34 provincial-level administrative units keep a large part of their …