Latest News:  
Beijing   Cloudy/Overcast    2 / -4   City Forecast

People's Daily Online>>China Business

Local pensions to be invested in stocks

By Louise Ho (Shanghai Daily)

08:47, January 18, 2012

CHINA'S national pension fund has been approved to invest 100 billion yuan (US$15.8 billion) from a southern province in the stock market, media reported yesterday.

The government has given the green light to the province, which was not identified, to offer the amount in pensions to the National Council for Social Security Fund to invest in stocks and bonds from this quarter, according to the China Securities Journal.

The majority of the investment will be in fixed assets while 30 to 40 percent will be allotted to stocks, according to the newspaper.

Dai Xianglong, president of the NCSSF, which runs the national pension fund estimated at 800 billion yuan, suggested earlier this month that more prosperous provinces be allowed to use their local pensions to invest in stocks.

The newspaper, however, quoted an unnamed source as saying that Dai's suggestion needed further studies.

Encouraged by the news of the approval, Shanghai stocks had the biggest rally yesterday in two years, closing 4.2 percent higher at 2,298.38.

Since 2003 the NCSSF has invested up to 40 percent of its pensions in equities, the report said.


Leave your comment0 comments

  1. Name


Selections for you

  1. Village on the way from Shandong to Northeast

  2. Service stations set up for migrant workers riding home

  3. Italian Navy divers speed the search for survivors on cruise liner

  4. Dragon decoration celebrates Chinese New Year in Kuala Lumpur, Malaysia

Most Popular


  1. Actions speak louder than words
  2. New driving force for East Asian cooperation
  3. In love with luxury amid global gloom
  4. China should take fight to US over Iran
  5. How will HK go through economic difficulties in 2012
  6. US dollar is just a dirty shirt
  7. Factors affecting world economy in 2012
  8. Why Russia's aircraft carrier visits Syrian port
  9. Central grain reserves turn into 'market stabilizer'
  10. A priority for Asia-Pacific shift

What's happening in China

Half of 500m Web users are microbloggers

  1. Railway police flex muscles against theft, fraud
  2. Shelter means hope for trapped miners
  3. CCDI says microblogs help fight corruption
  4. Beijing boosts responses in crisis zones
  5. Auto industry’s growth in 2011 slowest in 13 yrs

PD Online Data

  1. Yangge in Shaanxi
  2. Gaoqiao in Northern China
  3. The drum dance in Ansai
  4. Shehuo in Baoji City
  5. The dragon dance