Ministry of Human Resources and Social Security, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission, Circular on Issues Relevant to Old-age Pension Products for Enterprise Pensions

人力资源社会保障部、中国银行业监督管理委员会、中国证券监督管理委员会、中国保险监督管理委员会关于企业年金养老金产品有关问题的通知

Enterprise pension fund investment managers allowed to offer old-age pension products.

Clp Reference: 2410/13.03.19 Promulgated: 2013-03-19

Issued: March 19 2013

 

Applicability: An old-age pension product is a standard investment portfolio for enterprise pension funds offered by enterprise pension fund investment managers and sold specifically to enterprise pension funds.

Main contents: An old-age pension product may only invest domestically, and the scope of investment thereof includes financial products such as bank deposits, sovereign bonds, central bank bills, bond repurchases, universal insurance products, investment-linked insurance products, securities investment funds, stocks, commercial bank wealth management products, trust products, infrastructure bond investment plans, specific asset management plans, stock index futures as well as financial bonds, enterprise (corporate) bonds, convertible bonds (including separately tradable convertible bonds), short-term financing bills and medium-term notes whose credit rating is investment grade or above.

Old-age pension product assets may not be directly invested in warrants, and warrants that are obtained in connection with investing in investment products such as stocks and separately tradable convertible bonds shall be sold within 10 trading days from the date on which such warrants are listed and begin trading (Article 1).

Old-age pension products are divided into the following types: money type, stock type, hybrid type, fixed return type, fixed return type the product name of which indicates the investment orientation, commercial bank wealth management product type, trust product type and infrastructure bond investment plan type (Article 2).

Related legislation: Circular on Expanding the Scope of Investment of Enterprise Pension Funds, Mar 19 2013

clp reference:2410/13.03.19(2) issued:2013-03-19

Issued: March 19 2013

Applicability: An old-age pension product is a standard investment portfolio for enterprise pension funds offered by enterprise pension fund investment managers and sold specifically to enterprise pension funds.

Main contents: An old-age pension product may only invest domestically, and the scope of investment thereof includes financial products such as bank deposits, sovereign bonds, central bank bills, bond repurchases, universal insurance products, investment-linked insurance products, securities investment funds, stocks, commercial bank wealth management products, trust products, infrastructure bond investment plans, specific asset management plans, stock index futures as well as financial bonds, enterprise (corporate) bonds, convertible bonds (including separately tradable convertible bonds), short-term financing bills and medium-term notes whose credit rating is investment grade or above.

Old-age pension product assets may not be directly invested in warrants, and warrants that are obtained in connection with investing in investment products such as stocks and separately tradable convertible bonds shall be sold within 10 trading days from the date on which such warrants are listed and begin trading (Article 1).

Old-age pension products are divided into the following types: money type, stock type, hybrid type, fixed return type, fixed return type the product name of which indicates the investment orientation, commercial bank wealth management product type, trust product type and infrastructure bond investment plan type (Article 2).

Related legislation: Circular on Expanding the Scope of Investment of Enterprise Pension Funds, Mar 19 2013

clp reference:2410/13.03.19(2) issued:2013-03-19

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