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BlackRock Unit Gets China Nod to Join Pension Trial – Caixin

BlackRock CCB Wealth Management gets China Banking and Insurance Regulatory Commission nod to launch personal pension product in Guangzhou and Chengdu

The pilot programme of retirement WMPs is part of China’s pension reform to expand sources of retirement income amid looming shortfalls in its state pension system. Photo: Reuters.


A subsidiary of US asset manager BlackRock Inc has received approval to start selling retirement wealth management products (WMPs) in two major Chinese cities, as China expands a pilot pension programme aimed at boosting residents’ retirement income, Caixin Global reported.

BlackRock CCB Wealth Management Ltd received the green light from the China Banking and Insurance Regulatory Commission (CBIRC) to launch retirement WMPs, a type of personal pension product, in Guangzhou and Chengdu for a one-year trial period, according to a notice released by the commission on Friday.


Read the full reportCaixin Global.





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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.


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