As China’s population ages, the country’s authorities are facing the daunting question of who will cover the cost. When top leaders realized at the turn of the century that state pension funds would struggle to support the ballooning retired population, they created the National Social Security Fund (NSSF).
With more than $400 billion in assets under management at the end of 2020, the NSSF has since become one of the world’s largest sovereign wealth funds. One feature of its operations
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