BEIJING, May 13 (Xinhua) -- China will pilot retirement savings products at state-owned banks in some cities to diversify financial plans for retirement, said the China Banking and Insurance Regulatory Commission (CBIRC) on Friday.
The products, under development by the CBIRC and the People's Bank of China, are long-term investments with stable yields, fit for risk-averse residents, said the CBIRC.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!