CHINA PENSION MARKET

China’s 2020 census reported a total population of 1.41 billion, with 191 million Chinese over the age of 65. This represents13.5% of the total population.

In March 2021, during China’s 14th Five-Year Plan, a series of new reform measures were introduced that will expedite the development of the Chinese pension system. At present, China has the world’s largest participant base for its pension system, which is made up of the following three pillars: 

1)    Pension Fund (PPF)
2)    Enterprise Annuity (EA) and Occupational Annuity (OA)
3)    Personal savings pension insurance and commercial pension insurance

This Chinese government-led prioritization of the pension system creates opportunities for U.S. companies to provide customized insurance and pension solutions. 

For more information, please contact Commercial Specialist Ms. Hengyan Tian at Hengyan.Tian@trade.gov.