The Canada Pension Plan Investment Board has signed a memorandum of understanding with the People’s Republic of China’s National Development and Reform Commission to offer its expertise in assisting Chinese policy-makers in addressing challenges of the country’s aging population, including pension reform and the promotion of investment in the senior care industry from global investors.
The memorandum was included as part of the bilateral agreements signed on Thursday, witness by Prime Minister Justin Trudeau and China’s Premier Li Keqiang in Ottawa.
The pension fund has agreed to share its experiences and offer intellectual support in the formulation of policies, including providing joint training, workshops and research on pension reform and attracting international capital for the senior care industry.
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“As we continue to deploy capital in important growth markets like China for the benefit of CPP contributors and beneficiaries, there is significant value for a long-term investor like CPPIB in sharing information, experience and successful practices with policy-makers as they work towards improving policy frameworks,” said Mark Machin, president and chief executive officer of CPPIB.
“We are honoured to have the opportunity to share our perspective and expertise with Chinese policy-makers to tackle the issues of providing for an aging population.”