CDF Voice | Anil Wadhwani, CEO of Prudential

Hello everyone, I am Anil Wadhwani, Chief Executive Officer of Prudential.

On behalf of Prudential, a leading life and health insurer and asset manager focused on Asia and Africa, I extend my heartfelt congratulations to the China Development Forum on its 25th anniversary. I also congratulate China on its remarkable achievements since the last Forum.

As it approaches the completion of its 14th Five-Year Plan in 2025, China’s emphasis on high-quality development has implications for global economic resilience and cooperation.

For a quarter of a century, the China Development Forum has been a vital platform for open dialogue among government, business and academia. It fosters collaboration, deepens understanding, and helps shape policies that drive shared progress.

Prudential has been a long-standing supporter of this Forum, and I am delighted to once again be in Beijing to engage in these important discussions. Our commitment to China extends beyond this Forum. For decades, Prudential has been a dedicated partner in China’s economic development exemplified by our strong partnership with CITIC, through CITIC Prudential Life now celebrating its own 25th anniversary.

Across Greater China, ASEAN, India, and Africa, Prudential’s purpose is clear - to help individuals, societies, and communities thrive by working alongside regulators and policymakers to expand financial protection and savings opportunities.

China’s economic transformation is at an exciting inflection point. Key initiatives such as urbanisation, green transition, and digital revolution are reshaping industries and everyday lives. With world-class manufacturing, technological advancements, and deep global market integration, China is uniquely positioned to lead the next phase of high-quality growth.

A shift toward a more consumption-driven economy and strategic capital allocation to high-growth sectors will be critical for long-term sustainability. The world is watching as China’s success directly influences global economic stability.

Another important structural shift is China’s rapidly aging population. By 2035, over 400 million people, nearly 30% of China’s population, will be over 60 years old. By 2050, this number will climb to 40%. This demographic shift presents both challenges as well as opportunities. This evolving landscape underscores the urgent need for comprehensive retirement planning, increased access to life and health insurance, and broader adoption of long-term savings products.

We recognise that transitioning to a low-carbon economy is a global challenge requiring global solutions. Our focus is on a just and inclusive transition through targeted engagement and financing opportunities and ensuring that insurance is accessible and affordable for all. Expanding financial security solutions will strengthen social safety nets and boost consumer confidence. Encouraging households to diversify savings from real estate into productive financial instruments will deepen China’s capital markets.

We welcome the expansion of China’s personal pension scheme or Pillar 3. Through Prudential’s deep experience in piloting pension initiatives across multiple markets, we have seen firsthand how well-designed tax incentives can encourage participation in longer-term savings and pension products.

Technology continues to be a game changer. AI and digital innovation will lower distribution costs and personalise financial solutions, making insurance and savings products more accessible across a wider population. With CITIC Prudential Life’s extensive footprint across 100 cities and our strong multi-channel distribution through agency and bancassurance, we are very well-positioned to support the government’s objectives. This is more than just business. It’s about building trust fostering financial resilience and ensuring long-term macroeconomic stability.

China’s development momentum is not just a national priority. It’s a global imperative. At Prudential, we are committed to being a long-term partner in this journey, offering innovative solutions, expertise and a shared vision for sustainable growth. By empowering individuals today, we invest in a more stable prosperous tomorrow for China as well as for the world.

The China Development Forum provides an invaluable platform for dialogue, relationship-building, and trust. I'm truly looking forward to engaging in these discussions in person.

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