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Pension fund likely to have future shortfall
未来养老金基金可能出现短缺
Vice Finance Minister Wang Baoan acknowledged challenges in keeping China's pension system adequately funded during a press conference Friday morning.
Wang said China's pension fund will probably have a shortfall in the future because of growing obligations, but the government will employ a series of new mechanisms to keep the system running smoothly.
Wang also said the government will increase the fund's investments and widen the scope of its investment targets to increase returns.
But he said that the fund will not invest in bonds issued by local government financing vehicles as many had previously speculated.
