Locals, tech key for foreign firms in China's $970bn pension bonanza
China’s nascent private pension market is expected to reach $970 billion by 2030. For foreign firms to gain a foothold in the fast-growing retirement saving pool, local expertise and digitalisation are indispensable.
Local talent and technology will play a crucial role for foreign companies in being successful in China’s trillion-dollar private pension market, industry experts said.
The latest estimation showed that the total assets of China's nascent private pension market could reach Rmb7 trillion ($970.2 billion) by 2030, according to KPMG China and ASIFMA's joint report on China pension reform released on Monday.
“Technology is likely to be a hugely important factor in the success of for…
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