Pension fund ups stake in Datang

Datang Telecom Technology & Industry Holdings Co, a major developer of China's home-grown 3G standard, received a 2.6 billion yuan investment from the country's national pension fund, sources said.

The National Social Security Fund (NSSF) completed its investment in Datang Telecom Holdings in October and now holds a 20 percent stake in the company, a source familiar with the matter told China Daily yesterday.

The investment, which is the national pension funds' first in a central government-owned, non-financial enterprise, will be used to bankroll advancements in the firm's equipment production capacity and also raise additional working capital, the source said.