Contributions to China's fledgling private pension accounts have reached about 20 billion yuan ($2.9 billion) since their inception in November, with just under 70% of the funds invested, Caixin has learned, suggesting hesitation among some participants due to unfamiliarity with the system.
Caixin
China's new private pension scheme draws $2.9bn in contributions
Just under 70% of that amount has been invested so far
Participants in China's private pension program must set up a fund account with a qualified institution, such as a bank, to invest in financial products.
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