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China to use more social security fund for overseas investment
Source: BeijinglearningEnglish.com Updated on April 24,2014
China will "steadily increase" the use of the social security funds for overseas investment in 2009, the National Council for Social Security Fund (SSF) said Wednesday.
The current ratio of overseas investment makes up 6 percent of the total social security fund. However, SSF's spokesman did not provide further details of how much the overseas investment would be increased.
An SSF spokesman said it would take prudent measures to invest in stocks in 2009. It will also broaden the scope of investing and increase its support for state-owned companies and infrastructure construction.
The SSF's current overseas investment includes bank deposits, treasury bonds, corporate bonds and stocks.
Since 2000, the SSF investment earning has been rising an average of 8.98 percent a year to reach 160 billion yuan by the end of 2008.
By the end of last year, the total asset value of the SSF stood at 562.5 billion yuan.
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