China Banking and Insurance Regulatory Commission: Institutions issuing and selling pension financial products and individual pension financial products should disclose investment risks of pension financial products and individual pension financial products in a prominent manner.

The General Office of the China Banking and Insurance Regulatory Commission issued a notice on promoting the sustainable and healthy development of pension financial services. The notice mentions the need to fully disclose risks. Institutions issuing and selling pension financial products and individual pension financial products should prominently display the investment risks of these products, alerting investors to the possibility of different returns under various risk conditions, guiding investors to establish reasonable expectations, and not promising the products to be guaranteed principal or returns. There should be strict access control for product sales. When reviewing the access of pension financial products and individual pension financial products, sales institutions should comprehensively consider factors such as the past performance of benchmarking targets, the matching of risk and return, and compliance with performance display and information disclosure, and not simply base access reviews on performance benchmarks or past performance levels.