Core Viewpoint - The article discusses the accelerating aging process in China and the increasing burden on the working-age population for elder care, highlighting the need for improved pension systems and financial products to address these challenges [2][5][30]. Summary by Sections Aging Population and Pension Concerns - By the end of 2024, the elderly population aged 65 and above is projected to account for 15.6% of the total population, indicating that China has entered a deeply aging society [2][4]. - The elderly dependency ratio is approximately 4 working-age individuals for every 1 elderly person, increasing the financial strain on the younger population [4]. Public Sentiment on Retirement - 30% of respondents express concerns about insufficient funds for retirement, with over 50% worried about inadequate retirement income, rising medical expenses, and asset depreciation [5]. - A significant shift in attitudes is noted, with only 25% of respondents relying on children for support, reflecting a decline in the traditional "raising children for old age" mindset [6][7]. Sources of Retirement Income - 86% of respondents rely on basic pensions as a primary source of retirement income, underscoring the importance of the first pillar of the pension system [8][10]. - Other sources include financial assets (49%), enterprise pensions (45%), and property-related income (27%) [8]. Savings and Investment Behavior - While 90% of respondents have savings habits, only 54% engage in investment activities, indicating a lack of long-term investment strategies specifically for retirement [10]. - The main savings purposes include emergency/medical needs (65%), retirement savings (55%), and quality of life (48%) [11]. Preferences for Pension Financial Products - 65% of respondents prefer low-risk, stable-return pension financial products, with a desire for features like capital protection and inflation-beating returns [13][14]. - The current scale of China's pension system is only 12% of GDP, indicating significant room for growth [15]. Pension System Structure - The first pillar, basic pension insurance, is heavily reliant on fiscal subsidies, with a reported surplus of 6.31 billion yuan in 2023 [19]. - The pension replacement rate for urban workers is estimated at 45%, below the international warning line of 55% [20][21]. Development of Pension Financial Services - China Construction Bank aims to create a comprehensive pension financial ecosystem, focusing on a "1314" service system to support clients throughout their lives [30][31]. - BlackRock CCB has launched various pension financial products, including the first ten-year pension financial product "Bei Anxin" and personal pension products utilizing advanced technologies [32][33].

Core Viewpoint - BlackRock Jianxin Wealth Management is exploring new innovations in the pension finance sector, having previously launched the first ten-year pension wealth management product and the first joint venture personal pension wealth management product in China [1][2]. Group 1: Product Innovations - The latest product, "Beijia Intelligent Heart," aims to enhance returns by introducing rare stock assets into the R2 low-risk personal pension product, utilizing AI for stock-bond allocation [3]. - This product is notable for filling the gap in stock allocation within R2 pension products, which typically focus on fixed income or similar assets [8]. Group 2: Performance Metrics - As of June 30, the total scale of pension wealth management products exceeded 1,040 billion yuan, with personal pension wealth management products surpassing 12 billion yuan [5]. - "Beijia Anxin," launched on May 10, 2022, achieved an annualized return of 5.30%, ranking first among 51 pension wealth management products [6]. - "Beijia Intelligent Heart," launched on April 15, 2023, reported annualized returns of 3.84% for A shares and 3.93% for L shares, ranking second among newly established personal pension wealth management products this year [7]. Group 3: Systematic Investment Strategy - The BSYS platform, a flagship strategy of BlackRock, employs machine learning and big data analysis to capture valuable investment signals, managing over 256 billion USD globally [9]. - "Beijia Intelligent Heart" utilizes a systematic approach for asset allocation, dynamically adjusting stock-bond ratios based on risk and return targets, while integrating various market indicators for timing decisions [10][11].