Laudable plan to meet pension obligations

WITH ITS AGING SOCIETY putting a strain on pension payments, China will transfer some State assets, including shares of State-owned companies and financial institutions, to the country's social security fund, according to a document issued by the State Council, China's Cabinet, on Saturday. Beijing News commented on Sunday:

The plan is intended to help make up for shortfalls in the nation's pension schemes, the State Council document said.

Initially, 10 percent of equity in seven State-owned enterprise will be transferred to the National Council for Social Security Fund, with more SOEs to be included in the program next year.