The British insurer remains bullish on its private pension business in China while keeping a close eye on the US and global inflation for its investment portfolio.
Tag : third pillar
China’s nascent private pension market is expected to reach $970 billion by 2030. For foreign firms to gain a foothold in the fast-growing retirement saving pool, local expertise and digitalisation are indispensable.
Global asset managers have tried to step up their presence in China for years. Those efforts gathered speed recently after Manulife and Fidelity won regulatory approval to operate wholly-owned onshore businesses.
Official implementation framework announced this month expands investible universe for China’s private pension scheme, allowing more products and fund managers a slice of the trillion-dollar market.
