TORONTO, ONTARIO--(Marketwired - Sept. 22, 2016) - Canada Pension Plan Investment Board (CPPIB) announced today that it has signed a Memorandum of Understanding (MOU) with the National Development and Reform Commission (NDRC) of the People's Republic of China to offer CPPIB's expertise in assisting Chinese policy-makers as they address the challenges of China's aging population, including pension reform and the promotion of investment in the domestic senior care industry from global investors.
"As we continue to deploy capital in important growth markets like China for the benefit of CPP contributors and beneficiaries, there is significant value for a long-term investor like CPPIB in sharing information, experience and successful practices with policy-makers as they work towards improving policy frameworks," said Mark Machin, President & Chief Executive Officer, CPPIB. "We are honoured to have the opportunity to share our perspective and expertise with Chinese policy-makers to tackle the issues of providing for an aging population."
As part of the MOU, CPPIB has agreed to share its experiences and leverage its advantages to offer intellectual support to the NDRC in formulating policies related to China's aging population, including providing joint training, workshops and research on pension reform and attracting international capital for the senior care industry. The MOU was included as part of the bilateral agreements signed today, witnessed by Canadian Prime Minister Justin Trudeau and China's Premier Li Keqiang in Ottawa.
About Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 19 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City and São Paulo, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At June 30, 2016, the CPP Fund totalled $287.3 billion. For more information about CPPIB, please visit www.cppib.com or follow us on LinkedIn or Twitter.