From Chinese Media
China's pension fund increases tenfold
Updated: 2011-05-19 15:35
By Ben Yue (chinadaily.com.cn)
China's National Council for Social Security Fund (SSF) said that by the end of 2010 the assets managed by it totaled 856.7 billion yuan ($131.76 billion), a tenfold increase since it was established in August 2000, China Securities Journal reported on Thursday.
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Dai Xianglong, chairman of SSF said earlier that the fund will add 100 billion yuan investment in 2011, focused on fixed-return products, private equities and overseas assets. He expected the SSF to become 1.5 trillion yuan by 2015.
The report also said the SSF will invest more on government-subsidized housing projects for low-income families.
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