China to expand commercial pension pilot scheme nationwide, regulator says

Elderly people watch a game of mahjong in Beijing
FILE PHOTO: Elderly people watch a game of mahjong in Beijing, China, April 6, 2021. REUTERS/Thomas Peter

February 21, 2022

BEIJING (Reuters) – China will from March 1 expand nationwide a pilot scheme developing commercial pension products for the country’s aging population, its banking and insurance regulator said on Monday.

Other than six insurers including state-owned PICC Life Insurance, the China Banking and Insurance Regulatory Commission will also allow other pension firms to participate in the pilot, it said in a statement.

(Reporting by Beijing Newsroom, Editing by Timothy Heritage)