THE securities regulator proposed rules to regulate private pension investment via mutual funds, setting the criteria for qualified products and sales agents under a program that will channel fresh savings into the country’s capital markets.

The draft rules, published by the China Securities Regulatory Commission (CSRC) late Friday, came after the government in April launched a milestone private pension program to tackle challenges of aging population.

Under the program, eligible Chinese citizens can buy mutual funds, savings deposits and insurance products via their own individual pension accounts, potentially boosting the pension market.

The proposed rules “have set a relatively high bar for products and institutions, and are designed to ensure safety of pension fund investment and protect investors’ interest,” the CSRC said. (SD-Agencies)