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Li Daxiao: The Chinese version of 401k plans to officially set off the core assets of China stock market or rise in Ran Ran on the eastern horizon.

Li Daxiao: The Chinese version of 401k plans to officially set off the core assets of China stock market or rise in Ran Ran on the eastern horizon.Recently, the Ministry of Human Resources and Social Security, the Ministry of Finance, State Taxation Administration of The People's Republic of China, the General Administration of Financial Supervision and the China Securities Regulatory Commission issued the Notice on the Full Implementation of the Individual Pension System.

The Notice makes it clear that from December 15th, 2024, all workers who participate in the basic old-age insurance for urban workers or urban and rural residents in China can participate in the personal pension system. The scope of implementation of preferential tax policies has been expanded from 36 leading cities (regions) to the whole country.Li Daxiao, the former chief economist of securities firms, said that this will be a real long-term fund for the China stock market, which is great good news, and will bring long-term living water to the China stock market continuously, and provide support for the gradual upgrading of the core assets of the China stock market.