Principal® announces pension joint venture in China
Expanding global footprint will provide Chinese customers access to retirement solutions
Principal Financial Group®, a leading global financial services provider, today announced an exciting new chapter in their ongoing expansion of their global pension footprint as Principal® acquires a minority ownership stake (17.647%) in China Construction Bank (CCB) Pension Management Co., Ltd. (CCBP), CCB's pension business with the Social Security Fund of China (SSF). CCB will remain as the majority shareholder of CCBP with a 70% interest and an additional minority stake (12.353%) held by the SSF.
Principal is the first international company to invest in a bank-sponsored Chinese pension company, wi
