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

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.