China’s former central bank governor Zhou Xiaochuan has spoken in favour of letting pension funds invest overseas, a sign senior officials are considering such a move.
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Mainland provinces are set to sign contracts with the National Council for Social Security Fund, which will hand portfolios to firms approved to run public pension fund assets by late December.
Occupational annuities for 400 million civil servants are expected to become larger than longstanding pension schemes for companies.
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The Chinese government has announced it plans to broaden the investment scope of the country's major state pension scheme, leading to an expansion into alternatives and more mandates for domestic mutual funds.
