New NCSSF chief will face big pension challenge

Lou Jiwei, an outspoken and reform-minded politician in China, has stepped down as the chairman of National Council of Social Security Fund (NCSSF), just two years after taking up the role to help upgrade China’s pension system. Liu Wei The 68-year old is succeeded by Liu Wei, previously vice minister of finance, a source familiar with the situation confirmed to AsianInvestor. He is the NCSSF’s fifth chairman since it was set up in 2000.  Rumours about the replacement ci…