Guangdong Province Takes Measures to Promote Development of Pension Insurance
Guangdong Province, China – The General Office of the People’s Government of Guangdong Province has issued a notice outlining several measures aimed at promoting the high-quality development of the third pillar of pension insurance in the province. The notice specifically focuses on encouraging financial institutions to enhance the supply of financial products for pension insurance.
In line with the government’s goal of innovation and diversification, the notice urges financial institutions in the province to actively participate in the development of pension financial products, expand the range of underlying assets, and establish a comprehensive pension financial product system. These products should be tailored to meet the specific pension needs of the people in Guangdong Province, while ensuring safety, maturity, stability, and long-term value preservation.
Additionally, the notice emphasizes the importance of developing differentiated pension financial products that offer a variety of investment options. This will help improve portfolio management and enhance risk control capabilities within the pension sector.
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As the government takes steps to further promote the high-quality development of pension insurance in Guangdong Province, it is expected that these measures will encourage financial institutions to offer a wider range of pension products, catering to the diverse needs of the province’s residents.