Stock market too immature for Chinese pension funds

Lack of corporate governance and the poor quality of listed companies on China''s stock exchanges is preventing pension funds from entering market.

Pension funds cannot enter China's stock markets until improvements are made to the quality of listed companies, according to Li Yining, vice-chairman of the financial and economic committee of the National People's Congress.

Speaking at a recent international symposium on social security and pension fund management in Beijing, Yining added directors must be allowed to function independently and effectively to make this entry possible.

In a report by Chinese finance publication Securities Times, attendees at the symposium agreed that...

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