(China Alert) Pension reform: License and registration please

-Regulators updated pension reform progress during their Q3 press conference
-Z-Ben Advisors expects the first round of pension mandates to be issued this year
-License reform will be key to global managers targeting a slice of the assets

Update: Managers can now almost taste the Chinese pension mandates as regulators make significant progress towards reforms outlined last year. In their quarterly press conference, the Ministry of Human Resources and Social Security (MoHRSS), a key cog in the reform machine, moved forward from rhetoric to give some substance. Provincial-level governments will soon sign contracts with the central state pension manager to transfer local pension assets. Key details, such as supporting policies concerning asset allocation and risk management, are also being firmed up. All this leads Z-Ben Advisors to believe that not only should we see the first mandates coming out of this reform issued this year, but changes to who is actually eligible will soon be on the horizon.

Z-Ben Advisors believes that mandates will first be handed out to …

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