NU Online News Service, Mar. 20, 1:29 p.m. – The Principal Financial Group Inc., Des Moines, Iowa, has signed an agreement to start a formal dialogue with the national council that runs China’s pension system.
Principal executives will be working with Chinese officials to study the Chinese system more closely, and council officials will be visiting Principal’s offices in Des Moines and Sydney to see how a private company manages pension assets, according Rex Auyeung, a vice president in charge of Principal’s affairs in Asia.
Although Principal already has offices in China, Auyeung emphasized the value of opening a formal conversation with Chinese pension officials.
“It’s a two-way street,” Auyeung says. “We will continue to learn a lot.”