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首页 文化 「亚游集团官方首页【官方入口】」李一梅:中国养老金储备低 但有78万亿居民储蓄可转化

「亚游集团官方首页【官方入口】」李一梅:中国养老金储备低 但有78万亿居民储蓄可转化

2020-01-11 12:12:48

「亚游集团官方首页【官方入口】」李一梅:中国养老金储备低 但有78万亿居民储蓄可转化

亚游集团官方首页【官方入口】, 6月17日,伦敦证券交易所举行沪伦通揭牌仪式。华夏基金总经理李一梅作为唯一受邀中国公募基金公司代表,在伦敦交易所列席了沪伦通揭牌仪式。同时,李一梅参与中英金融服务峰会论坛并做发言。

在中英金融服务峰会论坛活动,主题为“Savings & Demographics”(储蓄和人口统计)讨论环节,李一梅表示,中国是人口第一大国,并且面临老龄化问题,同时也正在进行养老金第三支柱建设。目前,中国全部的养老金储备总额为9万亿元人民币,不到国内生产总值的10%。2017年,英国的这一数字为121.3%。所以中国急切需要解决养老问题,发展第三支柱。

李一梅也指出,值得庆幸的是,中国有较好的储蓄传统,2018年,中国居民储蓄存款达到78万亿元。因此,将部分储蓄转化为养老投资,是解决养老金储备不足的途径之一。

与其他资金的投资目标相比,养老金资产的投资期限更长,中国的公募基金公司一直是财富管理特别是养老投资发展的主力军。目前,中国60%的养老金资产由中国资产管理公司等共同基金公司管理。展望未来,养老金管理业务将成为未来20年推动中国公募基金行业发展的主要动力之一。

以下是发言概要:

10:20 - 10:35

Savings & Demographics – chaired by Mark Tucker

Mike Wells, Group CEO, Prudential

LI Yimei, CEO, China Asset Management Company

Sir Douglas Flint, Chairman, Standard Life Aberdeen

BI Mingjian, CEO, China International Capital Corporation

James Sun, CEO, Harvest Global Investments

Thank you Mr. Tucker.

Dear distinguished guests,

It is a great honor and privilege for China Asset Management Company to participate in this event. I believe the topic we are discussing today, demographics and savings, are increasingly important in today’s world, especially for China, with us being the largest population in the world and aging.

1.       Demographics and savings

We all know that the reduction in infant mortality and longer life expectancy contributed greatly to growth in population. For China, we had 2 baby booming periods. The first one is from 1962-71, the second is 1982-1992. The third one was supposed to come in 2005. But it did not. Because of our one child policy and also the up-rising real estate prices. I’m the first one child policy generation and my son is the last. I do think it helped to contain our population growth to a moderate rate but came with the side effect of fast aging pace.

Currently, the average age in China is approximately 47 years old, whereas the average age in the labor force is 37. As of last year, the population above 60 years old is 249 million. It is projected that by 2020, worldwide one in four people aged over 65 will come from China. In our social security system, in 2005 we have 6.1 workers supporting 1 retiree, in 2025, this number goes down to 2.5 versus 1, and in 2050 it will be 1.6 works for 1 retiree.

At the same time, the reform of our 3-pillar pension system is still at an early stage. Currently our first pillar basic pension has 5 trillion reserves covering 900 million people. Our second pillar which is corporate annuity accrued to 1.5 trillion covering only 24 million people and this year we are rolling out annuity for public servants. Adding 2 trillion from National Social Security fund, the total pension reserve that China has right now is 9 trillion, accounting for less than 10% of our total GDP. And that number in UK is 121.3% in 2017.

So that is why this topic today is not only of great importance for China but also of the highest urgency. The whole nation’s wellbeing and prosperity call for a faster and more comprehensive pension solution reform.

Ok all of this sounds quite scary. Should we get panic? Not really. Luckily Chinese people has a tradition of saving. Saving deposit for Chinese residents amount to 78 trillion in 2018. So now our public policy focus and industry endeavors today is to use investments to help the savings not only reserve purchasing power but more importantly to grow to cope with the challenge of living a longer and better life. We do believe that professional and responsible investments are the key.

2.       Asset managers as the main force for pension developments in China

Pension assets have a longer investment horizon compared to other investment objectives, which is where Chinese mutual fund managers excel in. Since inception 21 years ago, Chinese mutual fund companies has always been the major force of the development of wealth management particularly pension investment. At present, 60% of Chinese pension assets are managed by mutual fund companies such as ChinaAMC. Pension management business is believed to become one of the major driving forces contributing to the development of the industry in next 20 years.

As the main managers for National Social Security fund and corporate annuities, Chinese mutual fund managers have gained rich experience and outstanding track records. According to the Association of China Asset Management, over the past 21 years, domestic equity funds achieved annual returns of over 16% p.a., outperforming the Shanghai composite index by over 100%. Meanwhile, 2.3 trillion RMB of return was generated for investors, of which 222 billion RMB was contributed by ChinaAMC, ranking the first in the industry. The dividends provided to Chinese investors amounted to 2.06 trillion RMB with over 138 billion paid by ChinaAMC, which also makes us the largest industry contributor. The above statistics demonstrate solid pension investment capabilities of asset managers in China.

3.       The Progress and advantages of ChinaAMC’s pension management

Here at ChinaAMC, we are proud of how our business has evolved along with the prosperity and openness of China. Since establishment in 1998, ChinaAMC has maintained its industry leadership with total AUM of approximately USD 160 billion. As one of the earliest nation-wide fund management companies approved by CSRC, we serve over 100 million retail investors and 44,100 institutional investors including many of the world’s largest and esteemed institutions.

Being the earliest fund company to engage in pension asset management in China, ChinaAMC has accumulated over 18 years of experience in national social security fund, enterprise annuity and basic pensions. At the end of Q1 2019, our total value of pension assets under management exceeded 190 billion RMB, dominating the industry. In terms of the third pillar individual retirement plan, the firm is at the forefront of the industry in research coverage and product innovation. Our market-leading flagship product ChinaAMC Return Fund is held by 4.3 million investors as part of their long-term saving plan. It achieved returns of 16.82% p.a. and paid dividends of over 12.9 billion RMB for more than 82 times since 2003. Significant progress has been witness in our collaboration with leading international peers in pension management such as Fidelity International where we adopted their glide path methodology into local Chinese market and successfully launched the first Chinese TDF product– Huaxia 2040 in September 2018. With thanks to nearly 170,000 fund holders, the company has set up a full suite of TDF product line and keep leading the investors’ education journey.

This is only the beginning. We hold the faith that long and happy life of our clients, the future prosperity of the country need us to excel our expertise every day. We will continue to learn from the world’s best practices and make it our life long mission. Thank you!

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李一梅作为唯一受邀中国公募代表列席沪伦通揭牌仪式


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