China May Shift Shares to Fund Pensions

From Financial Times :

Beijing is considering transferring shares from state-owned companies to the national pension fund to help fill a gaping shortfall, the fund’s new head told the Financial Times on Friday.

Dai Xianglong , chairman of the National Council for Social Security Fund , said the government, individuals and companies all had to increase contributions if the $70bn fund was to meet the pension commitments to the country’s ageing workforce.

“In the future it is possible for a portion of domestic public state-owned shares to be transferred to the NCSSF,” said Mr Dai, a former central bank governor, in an interview.

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