No.

Central state-owned enterprises transferred CNY1.1 trillion (USD157 billion) worth of assets to social security funds last year, 11 times more than in 2018.

The central government demanded another 10 percent of state-owned assets, or CNY2 trillion worth, move into social security funds by the end of this year, making the funds worth between CNY3 trillion and CNY5 trillion, insiders project.

Transferring such a large amount in one year will be a difficult task and the handover of provincially and municipally owned assets has only just begun. It will be far more complex for those owned by the central government, so we predict the target will remain at 10 percent.