As China tries to stem a pension shortfall, the government has ordered state-owned enterprises (SOEs) to stop dragging their feet on the mandated transfer of equity to the national social security fund.
SOEs managed by the central government are meant to have transferred 10% of their state-owned equity by the end of 2019, though the deadline can be extended to the end of 2020 if companies “really have difficulties,” a document (link in Chinese) released on Friday by several central government departments read. In principle, the deadline for local SOEs is the end of 2020, the document said.