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The initiative is expected to support retirement security for businesses and employees in local industrial zones.
Major Chinese seaport city Weihai has rolled out an industrial-park-wide enterprise pension scheme to support retirement security for businesses and employees in local industrial zones.
This park-wide pension model is expected to help standardise plan design and simplify administrative procedures, while also lowering participation barriers for companies.
Preliminary data indicates that 23 companies have aenrolled in the scheme during its initial phase, covering nearly 400 employees.
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