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Social Security Fund to Boost China's Stock Market
China's bullish stock market may get a further lift in the near future since the government is already studying the possibility of investing social security funds into the securities market.
According to today's China Securities, the Ministry of Labor and Social Security has started a program to research the income and expenditure of social security funds over the next three to five years, as well as investment and risk control in social security fund management.
The program will be done in co-operation with the Beijing-based Boshi Fund Management Co., which now manages five closed-end funds with total net assets worth 10 billion yuan.
The report quoted experts as saying that social security fund has the potential of becoming a major source of capital for China's stock market.
Wang Jianlun, vice-minister of Labor and Social Security said the design of China's social security system will be completed within the year and put into test operation in 2001.
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