Finance

Professor Yan Zhipeng clarified his stance on retirement savings after his suggestion of starting at age 10 drew criticism. He stated his research was misconstrued and intends to provide further context. Yan emphasizes the need for financial institutions and regulators to address women’s specific retirement challenges, advocating for higher contribution limits to individual pension plans and tailored financial products. He uses examples, including triplets saving at different ages, to highlight the importance of early investment and the power of compounding. He also suggests a “30 yuan rule” for those in their 30s.

Baidu founder Robin Li announced a leadership shake-up, appointing He Haijian as the new CFO and Jackson He to head HR and Administration. Cui Shanshan will focus on her role as Secretary-General of the Culture Committee. He Haijian brings extensive financial experience from Kingsoft Cloud and major financial institutions.

Huabei, Ant Group’s consumer credit arm, launched “Little Red Flower,” allowing users to potentially increase their credit limits by submitting over 1,000 types of certifications, including professional, vocational, and even informal credentials. This AI-powered feature analyzes credentials with high accuracy and rewards users for demonstrating skills, resulting in lower delinquency rates among participants. The initiative aims to expand credit assessments beyond traditional metrics, fostering financial health and promoting responsible financial behavior.