LEADER 06414oam 22011414 450 001 9910960566103321 005 20250426110521.0 010 $a9786612844447 010 $a9781462368877 010 $a1462368875 010 $a9781452762166 010 $a1452762163 010 $a9781451873931 010 $a145187393X 010 $a9781282844445 010 $a128284444X 035 $a(CKB)3170000000055381 035 $a(SSID)ssj0000941196 035 $a(PQKBManifestationID)11545405 035 $a(PQKBTitleCode)TC0000941196 035 $a(PQKBWorkID)10963952 035 $a(PQKB)11759665 035 $a(OCoLC)680613541 035 $a(IMF)WPIEE2009246 035 $a(MiAaPQ)EBC1605959 035 $a(IMF)WPIEA2009246 035 $aWPIEA2009246 035 $a(EXLCZ)993170000000055381 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aGovernance and Fund Management in the Chinese Pension System /$fYu-Wei Hu, Gregorio Impavido, Xiaohong Li 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a50 p 225 1 $aIMF Working Papers 300 $aBibliographic Level Mode of Issuance: Monograph 311 08$a9781451918083 311 08$a1451918089 320 $aIncludes bibliographical references. 327 $aIntro -- Contents -- Glossary -- I. Introduction -- II. Brief Description of Current Social Security Arrangements -- III. The Basic Old Age Insurance System -- IV. The National Social Security Fund (NSSF) -- A. Institutional Structure and Fund Governance -- B. Sources of Funds -- C. Investment Policy Objectives and Asset Allocation -- D. Implementation of the Strategic Asset Allocation and Performance -- V. The Enterprise Annuity System -- A. Size and Performance of the Enterprise Annuity System -- B. Governance Framework in the Enterprise Annuity System -- VI. Conclusion -- A. The Basic Old Age Insurance System -- B. The National Social Security Fund -- C. The Enterprise Annuity System -- Reference -- Tables -- 1. Key Design Features of the Chinese Pension System -- 2. National Social Security Fund-Source of Funds -- 3. Total Assets of Select Demographic Buffers (Percent of GDP) -- 4. National Social Security Fund-Domestic Strategic Asset Allocation -- 5. National Social Security Fund-Foreign Strategic Asset Allocation -- 6. National Social Security Fund-Increasing Use of Outsourced Asset Managers -- 7. National Social Security Fund-Internally Managed Portfolio -- 8. National Social Security Fund-Foreign Investment Mandates (2006) -- 9. National Social Security Fund-Foreign Investment Managers (2006) -- 10. National Social Security Fund-Custodians (2008) -- 11. National Social Security Fund-Gross Investment Performance -- 12. National Social Security Fund-Investment Performance of Assets Managed Internally -- 13. National Social Security Fund-Expenses -- 14. Comparison of Operating Costs-Select Funds -- 15. Evolution of the Enterprise Annuity System Market -- 16. Nominal and Real Returns in the Enterprise Annuity System-2006-2008 -- 17. Minimum Capital Requirements for Enterprise Annuity System Providers -- Figures. 327 $a1. Coverage of the Chinese Pension System -- 2. National Social Security Fund-Governance Structure -- 3. Pension Fund Returns in Selected OECD Countries (January-October 2008) -- Appendices -- I. Key Design Parameters of the Basic Old Age Insurance system -- II. Reliance on Proceeds from IPO to Fund Pension Liabilities -- III. Regulatory and supervisory architecture for the EA system. -- IV. List of Enterprise Annuity Licences by Type of Company in China as of May 2008. 330 3 $aThe Chinese pension system is highly fragmented and decentralized, with governance standards, pension fund management practices, their regulation and supervision varying considerably both across the funded components of the Chinese pension system and across provinces. This paper describes the key components of the system, highlights the progress made to date and identifies remaining weaknesses, in regard to information disclosure, the governance framework and pension fund management standards. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/246 606 $aPension trusts$xInvestments$zChina 606 $aPension trusts$xManagement$zChina 606 $aAsset allocation$2imf 606 $aAsset management$2imf 606 $aAsset-liability management$2imf 606 $aFinance$2imf 606 $aFinancial instruments$2imf 606 $aFinancial Risk Management$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aInternational Financial Markets$2imf 606 $aInvestment & securities$2imf 606 $aInvestments: General$2imf 606 $aLabor$2imf 606 $aNonwage Labor Costs and Benefits$2imf 606 $aPension spending$2imf 606 $aPensions$2imf 606 $aPrivate Pensions$2imf 606 $aPublic Finance$2imf 606 $aSecurities$2imf 606 $aSocial Security and Public Pensions$2imf 607 $aChina, People's Republic of$2imf 615 0$aPension trusts$xInvestments 615 0$aPension trusts$xManagement 615 7$aAsset allocation 615 7$aAsset management 615 7$aAsset-liability management 615 7$aFinance 615 7$aFinancial instruments 615 7$aFinancial Risk Management 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aInternational Financial Markets 615 7$aInvestment & securities 615 7$aInvestments: General 615 7$aLabor 615 7$aNonwage Labor Costs and Benefits 615 7$aPension spending 615 7$aPensions 615 7$aPrivate Pensions 615 7$aPublic Finance 615 7$aSecurities 615 7$aSocial Security and Public Pensions 676 $a330.951 700 $aHu$b Yu-Wei$01816662 701 $aImpavido$b Gregorio$01810399 701 $aLi$b Xiaohong$0973932 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910960566103321 996 $aGovernance and Fund Management in the Chinese Pension System$94372938 997 $aUNINA