Gu Shu, chairman of Agricultural Bank of China (01288.HK) (601288.SH), stated at the "2024 Lujiazui Forum" that the banking industry currently faces difficulties and bottlenecks in the retirement financial sector. The effectiveness is relatively slow due to the wide involvement of the silver development economy, the length of the industry chain, and the diversification of business forms, and the universal operation of the retirement industry chain faces the problem of difficult profitability and guarantees. With the continuous advancement of urbanization and the migration of a large number of county populations, which have been transformed into new citizens, the supply of retirement infrastructure and financial services is relatively weak.

Combining with the actual situation of Agricultural Bank of China, Gu Shu said that in terms of financing service supply, we need to integrate the industry chain and innovation chain, and focus on key nodes of silver development economic industry chain and upstream and downstream chain enterprises to cultivate the advantages of main bodies and extend the financial service chain. Combine credit, investment, financial leasing, and other comprehensive service capabilities to meet the needs of market entities in multiple dimensions and levels, and guide more credit resources to tilt toward the retirement industry. At the same time, the Agricultural Bank of China should strengthen the aging renovation and services of core urban and rural nodes, improve the level of retirement financial services in key areas of new urbanization, increase the layout of network points in the junctions of county urban-rural areas, and in particular, integrate the service demands of new citizens and migrant workers for retirement finance.

Gu Shu also pointed out that Agricultural Bank of China is a financial institution that spans urban and rural areas and needs to leverage its unique advantages of urban-rural linkage to serve the migration of urban and rural populations and the transfer of financial needs, and provide more high-quality, sustainable, and high-quality retirement financial services to the general public. (ta/k)

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