In the summer of 2024, Mr. Long, who was about to retire, received a call from China Merchants Bank (CMB) Shekou Branch informing him of a "retirement gift" prepared by Shekou Industrial Zone.
With mixed feelings of anticipation and uncertainty, Mr. Long visited CMB Shekou Branch, where he confirmed the details of this unexpected benefit. The story traced back to the early days of China's reform and opening-up when Shekou Industrial Zone pioneered employee social security contributions. Over 46 years, these funds passed through multiple management agencies before being entrusted to CMB for custody and accounting. However, due to incomplete records, many beneficiaries' contact details were missing or lost. Starting in 2008, CMB spent over a decade reconstructing the data of tens of thousands of beneficiaries like Mr. Long, ensuring their rightful claims were processed.
Recalling the moment in the summer of 2025, Mr. Long remained emotional: "I had no idea this money existed until CMB found me. It means so much to us."
Mr. Long’s story is just one example of CMB’s broader efforts in retirement finance. As China’s population ages, individuals and institutions alike are grappling with how to secure present and future livelihoods. Ensuring financial security and well-being for retirees is not just a family concern but a societal and financial challenge—one that demands the expertise of capable financial institutions.
As the first bank to pilot corporate annuity services and one of the first to obtain annuity trusteeship qualifications, CMB has been a trailblazer in retirement finance. Its innovations span from adapting branches for elderly accessibility to building a robust corporate annuity system focused on "risk control, yield management, and service excellence."
### 1. A 46-Year Commitment to Integrity Did China have pensions 46 years ago? Even CMB Shekou Branch staff were surprised to learn the answer.
In the late 1970s, when most workers earned uniform, modest wages, Shekou Industrial Zone—China’s first open industrial park, established by China Merchants Group in Shenzhen—began experimenting with corporate pension mechanisms. By 1979, before China’s national social security system was established, Shekou had already started contributing to a social insurance fund.
In 1998, part of the fund was transferred to Shenzhen’s newly established Social Security Bureau, while the remainder continued as a supplementary pension. By 2008, as Shekou Social Insurance Company prepared to dissolve, the historic pension funds were formally entrusted to CMB, marking the beginning of a decades-long guardianship for tens of thousands of Shekou’s pioneers.
The task was daunting. Manual records from the 1980s and 1990s contained errors, and outdated or incomplete employee information posed challenges for registration and distribution. CMB’s dedicated team tackled these issues through specialized training and archival work, ensuring beneficiaries like Mr. Long could access their rightful pensions.
Statistics show that Shekou’s supplementary pension covers over 20,000 employees, with about 10,000 yet to claim their benefits—some expected to retire as late as 2040. This 46-year-old promise continues to be honored by CMB, passing from one generation of bankers to the next.
### 2. Meticulous Care: Making Banks Elderly-Friendly CMB Shekou Branch, where Mr. Long inquired about his pension, is not only the birthplace of CMB’s service ethos but also a model for elderly-friendly banking in Shenzhen.
Recognizing Shekou’s aging demographic, CMB Shenzhen Branch designated Shekou as a "pioneer in elderly services" in February 2024, optimizing its layout and customer experience.
The branch offers barrier-free access, priority service counters, and amenities like magnifiers, wheelchairs, and health monitors. A "care call button" in the lounge ensures immediate assistance, while tailored services—such as home visits for mobility-impaired clients—highlight CMB’s commitment to inclusivity.
### 3. Leading the Charge in Annuity Expansion The Shekou pension project reflects CMB’s two-decade expertise in corporate annuities.
In 2003, China Southern Airlines, the first central enterprise to pilot corporate annuities, chose CMB as its account manager. By 2005–2007, CMB became one of the first banks to secure annuity trusteeship and custodianship licenses. Landmark clients like Lenovo (holder of China’s first corporate annuity plan, No. 001) further cemented its reputation.
Winning large clients, such as a major Shenzhen state-owned enterprise, required demonstrating seamless data migration and superior service capabilities. CMB’s integrated approach—combining centralized operations with localized service—helped secure such high-profile mandates.
Over the past five years, CMB’s corporate annuity assets under trusteeship have grown at an average annual rate of 30%, underpinned by its principles of "professionalism, patience, and responsibility."
### 4. A Robust Annuity Service Ecosystem Behind cases like Shekou and China Southern Airlines lies CMB’s comprehensive annuity service framework, prioritizing risk control, yield optimization, and client-centric solutions.
CMB’s risk management leverages advanced monitoring and credit evaluation systems to preempt defaults. Its investment manager selection process ensures disciplined portfolio management, while innovative tools like "pension product profiling" enhance returns.
The bank’s one-stop annuity service integrates trusteeship and account management, supported by a unique "centralized operations + localized service" model. Tailored portfolio recommendations further simplify decision-making for clients.
As China’s aging society demands more sophisticated retirement solutions, CMB continues to innovate, refining elderly-friendly services and annuity ecosystems. Its enduring promise—to safeguard and enrich retirees’ lives—remains a beacon for generations to come.