Briefly

More private pension fund sales agencies

China saw a growing number of qualified fund sales agencies to cater to the wealth management demands of clients participating in the country's private pension scheme. There were 52 fund sales institutions for private pension as of the end of 2024, up from 37 in 2022, said the Asset Management Association of China. Among them, 19 are commercial banks, including Industrial and Commercial Bank of China and Agricultural Bank of China.

Policy bank backs public infrastructure

China Development Bank issued loans of 20.4 billion yuan ($2.85 billion) in 2024 to support 136 dual-use public infrastructure projects in cities including Beijing, Shenzhen and Fuzhou, said the policy bank. Dual-use public infrastructure refers to public facilities such as stadiums, convention centers and parking facilities that can be easily converted for emergency use.

Xinhua - China Daily