Recently, the reporter learned from the Chenzhou Municipal Development and Reform Commission that Chenzhou issued the "Implementation opinions on fully liberalizing the market and improving the quality of pension services" (hereinafter referred to as "Opinions"). The Opinions suggests that Chenzhou pension service market will be fully liberalized by 2020, which will further stimulate the vitality of Chenzhou pension service market, expand the effective supply of pension service, and let the majority of the elderly people enjoy better pension services.

The "Opinions" requires that the entrance threshold will be lowered further after liberalizing the pension service market. The establishment of for-profit pension institutions shall be carried out in accordance with the simplified procedure of "Flicence granted before certificate", and the establishment permit should be applied for in the Civil Affairs Department of the People's Government at or above the county level in the jurisdiction after the registration of the administrative department for industry and commerce. The non-profit pension institutions registered in civil affairs departments may set up a number of service outlets that do not have the status of legal persons within the jurisdiction of their registration and administration organs according to law. The foreign investors are encouraged to set up for-profit and non-profit pension institutions in Chenzhou and enjoy the same preferential policies as domestic investors. The "Opinions" also requires to comprehensively clean up and cancel unreasonable pre-approval matters of applying for pension institutions, and optimize and simplify the approval process.