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The personal pension pilot will be fully liberalized and the fund products will be expanded to broad-based index products. This move is of great significance. In terms of investment, broad-based index products can spread risks and provide a stable guarantee for maintaining and increasing the value of pensions. Ordinary investors can share the stock market dividend and accumulate pension assets.For A-share market, it will introduce long-term stable incremental funds, optimize investor structure, promote market stability and maturity, and form a benign interaction between pension and stock market. Compared with the American 401K plan, the China version combines its own national conditions and the characteristics of the capital market, encourages individual participation with tax incentives, improves the pension system and helps the development of the capital market.

$ Shanghai Composite Index (SH000001)$The expansion of personal pension to broad-based index products will bring about 150 billion incremental funds every year.

The personal pension pilot will be fully liberalized and the fund products will be expanded to broad-based index products. This move is of great significance. In terms of investment, broad-based index products can spread risks and provide a stable guarantee for maintaining and increasing the value of pensions. Ordinary investors can share the stock market dividend and accumulate pension assets.For A-share market, it will introduce long-term stable incremental funds, optimize investor structure, promote market stability and maturity, and form a benign interaction between pension and stock market. Compared with the American 401K plan, the China version combines its own national conditions and the characteristics of the capital market, encourages individual participation with tax incentives, improves the pension system and helps the development of the capital market.