Landmark China pension JV eyes public mandates
The new pension fund management joint venture between China Construction Bank and the National Council for Social Security Fund is awaiting a licence to be able to start investment activities.
China Construction Bank has partnered China's National Council for Social Security Fund to set up a Beijing-based retirement fund management subsidiary, which will be the country’s first full-service pension manager.
CCB Pension Management, launched on Friday, has Rmb2.3 billion ($360 million) in registration capital and is 85% owned by CCB, with state entity NCSSF holding 15%.
The joint venture will be the first institution to secure a full licence for pension management in Chi…
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