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国资划转社保(guózī huàzhuǎn shèbǎo): Transferring State assets to social security fund

China Daily | Updated: 2017-11-21 07:59

The State Council, China's Cabinet, recently released a document indicating shares of State-owned enterprises and financial institutions will be transferred to the country's social security fund. This move aims to ease the pressure of pension payments.

The assets will be transferred to the National Council for Social Security Fund and wholly State-owned enterprises. The transfer ratio will be 10 percent of the State-owned equity.

The council and local SOEs that receive the equity can earn dividends from SOE shares. They will have the right to dispose of them. But they will not be involved in the management decisions of the companies.

In addition, the council can set up a pension fund management company to operate the transferred assets independently under certain circumstances.

The document also said pilot programs will be launched in some central SOEs in 2017. The pilot programs will be further expanded next year.

It is expected this move will ensure the sustainable development of the country's basic pension insurance system. It is also expected to diversify the capital structure of SOEs. This will improve the efficiency of SOEs.

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