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flag China launches private pension program, aiming to boost elderly savings and grow capital markets.

flag China has launched a nationwide private pension program, allowing individuals to open accounts at commercial banks with a yearly deposit cap of 12,000 yuan. flag This voluntary program, seen as a step towards better financial readiness for the elderly, is expected to mature China's capital markets by introducing more stable investment options like treasury bonds. flag Experts predict the market could reach 12 trillion yuan by 2035, with 40% of funds invested in equities, enhancing the Chinese stock market's vitality.

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