But why is the Firefighters’ Pension Fund fighting tooth and nail about pension valuation assumptions? Isn’t it a good thing to have more conservative assumptions, leading to a better-funded plan?

2020 actuarial valuation reports were based on assumptions that are yet to occur. It has therefore urged its stakeholders not to treat the 2020 findings and projections of the report in isolation ...

The bottom line: We reduce our fair value estimate for Vanke to CNY 6. ... 2026 and have revised our midcycle operating margin assumption down to 2.3% from 6.1%. Between the lines: As Shenzhen ...