Fidelity International and ChinaAMC, one of the country’s largest fund managers, have agreed a partnership aimed at filling a gap in the country’s nascent private pensions system.
A quarter of China’s population will be 60 or older by 2030, creating huge strains on the state-funded pension system, which has led to an urgent need for private retirement provision.
Millions of young Chinese workers, however, face a pension shortfall through neglecting to save for their retirement.
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