Expansion of the pilot program of pension wealth management products
2022-02-28 08:52:05Source: People’s Daily Overseas Edition
This newspaper, Beijing, February 27 (Reporter Ouyang Jie) The China Banking and Insurance Regulatory Commission has recently expanded the pilot scope of pension wealth management products, stipulating that starting from March 1, 2022, the pilot scope of pension wealth management products will be expanded from “four places and four institutions” to “ten places”. Ten Institutions”. The pilot areas have been expanded to ten places including Beijing, Shenyang and Changchun. The pilot institutions were expanded to ten wealth management companies including ICBC Wealth Management, CCB Wealth Management, and CNCB Wealth Management.
At the same time, it is stipulated that for the four wealth management companies that have launched the pilot program, the upper limit of the total amount of funds raised by a single institution’s pension wealth management products will be raised from 10 billion yuan to 50 billion yuan; for the six new wealth management companies this time, single institution The total scale of funds raised by pension wealth management products is capped at 10 billion yuan. Pilot wealth management companies shall independently select one or more pilot areas to sell pension wealth management products within the scope of the pilot areas, but shall not sell beyond the pilot areas.
The China Banking and Insurance Regulatory Commission requires pilot wealth management companies to continuously optimize the plans for pension wealth management products, improve the accuracy and transparency of information disclosure, and increase the supply of long-term products.