The Financial Street Forum 2024, held from October 18 to 20 in Beijing, has been a focal point for discussions on China's economic and financial strategies. On the second day, a pivotal parallel session titled \"Propelling High-Quality Development of Pension Finance: Global Progress and China's Opportunities\" took center stage.
Experts and policymakers delved into the three pillars of China's pension system: the public scheme, enterprise scheme, and private scheme. Emphasizing the importance of a robust pension framework, the session highlighted how these pillars work in synergy to ensure financial security for the aging population.
The public pension scheme serves as the foundation, providing a safety net for retirees through government-managed funds. Meanwhile, the enterprise and private schemes offer additional layers of financial support, encouraging both businesses and individuals to contribute towards their future.
China's approach not only addresses domestic needs but also presents opportunities for global collaboration and investment. By fostering high-quality development in pension finance, China aims to create sustainable growth and stability within its economy, setting a benchmark for other nations navigating similar challenges.
Reference(s):
cgtn.com
