Pilot program to begin in several provinces and expand in 2018

China will transfer a chunk of State financial assets to its social security funds, a program experts believe will ease the pressure of pension payments as the aging population continues to grow.

Ten percent of State-owned equity, including shares of State-owned enterprises and financial institutions, will be transferred to the National Council for Social Security Fund and smaller, local State-owned companies, the State Council, China's Cabinet, announced in a document on Saturday.