Guangzhou: Support banks to offer individual pension plans and develop dedicated individual pension savings products.

Guangzhou city issued the "Guangzhou Measures for Promoting the High-Quality Development of Pension Finance". The "Measures" mention enriching the supply of financial products for the third pillar of pension insurance. It guides financial institutions in Guangzhou to leverage their respective business characteristics and advantages to steadily promote the development of funds, wealth management, savings, and insurance products with pension attributes to meet the personalized pension needs of individuals with different risk preferences. It supports banks that offer personal pension business to develop exclusive personal pension savings products. It encourages trust companies to carry out customized family trusts, family service trusts, insurance trusts, and other wealth management service trust businesses. It timely strives to include more legal entity financial institutions in Guangzhou into various policy scopes such as individual pension.