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China’s pension system has become more comprehensive with the implementation of the personal pension mechanism – the so-called third pensi.

Wang haifengChangjiang pension insurance co ltdChina amp rsquos pension system has become more comprehensive with the implementation of personal mechanism ndash so called third pillar last yearCcording to changjiang pension insurance coTd wang haifengHe company amp rsquos general managerIscusses the pension market amp rsquos growth and gives an overview of changjiang development plans in this interview with asia asset management how have issues such as ageing population impacted china over past few yearsHe ageing population has brought challenges to the country amp rsquos retirement system thusHe market is demanding stronger pension investment capabilities from financial institutions in the meantimeHina amp rsquos pension system has become more complete the coverage of first pillar basic state comprehensive and participation rate second enterprise annuities occupational experienced steady growth with implementation third individuals rsquo growing awareness wealth accumulationE expect the country amp rsquos pension replacement ratio will continue to improve what is your view on long term trend of third pillar market we see three key trends in private firstInancial institutions need to differentiate their pension products based on clients amp rsquo age and wealth secondHethera pension manager can sustain their business growth is highly dependent on products amp rsquo capabilities to generate stable long term annualised return thirdEnsion managers will have to provide more value addUch as healthcare servicesO retain their clients from an operations perspective