Institutions tapped to operate corporate pensions
21 November 2007
The Ministry of Labor and Social Security announced the second batch of institutions approved to operate corporate pensions on Monday, Economic Observer reported (in Chinese). Twenty-four institutions won four types of certificates for dealing with the corporate pension business on different levels. Industrial and Commercial Bank of China, China Construction Bank and Ping An Insurance were among those that qualified for mandatary, account manager and trustee licenses, while Changjiang Insurance and Taikang Insurance were approved for investment manager, mandatary and account manager licenses.