Chinadaily.com.cn
     
    Go Adv Search
    Pension fund permitted to enter capital market

    Pension fund permitted to enter capital market

    Updated: 2012-03-21 21:36

    By Gao Changxin (chinadaily.com.cn)

      Comments() Print Mail Large Medium  Small 分享按鈕 0

    SHANGHAI - A Chinese province won permission on Wednesday to try out investing money from its largely unmanaged pension into the country's capital markets.

    Analysts said that change could help the funds maintain their value and could have far-reaching consequences for domestic stock markets.

    With the approval of the State Council, China's cabinet, the southern province of Guangdong has taken 100 billion yuan ($15.8 billion) from its pension funds and entrusted them to the National Council for Social Security Fund for two years. The council now manages social security funds that are raised from both sales of shares in State-owned companies and from central government grants.

    In a statement posted on its website, the council said pension-fund investments will mainly go into fixed-income securities, which are largely risk-free in China, where there is a lack of high-yield bonds.

    The assets most likely to be bought are government, commercial and financial bonds, but the National Council for Social Security Fund didn't rule out investing in the stock market. Equity investors in China have long wanted pension funds to invest into the country's stocks markets in the hope that doing so would push those markets out of the doldrums.

    The council's rules forbid it from putting more than 40 percent of its investments into equity investments, meaning that up to 40 billion yuan can go into the stock market.

    The Shanghai Composite Index, which tracks many Chinese stocks, edged up 0.06 percent to close at 2378.20 points on Wednesday, helping to reverse a 1.38 percent slump on Tuesday.

    In Guangdong's case, the National Council for Social Security Fund has said it will shoulder all of the risk that arises from investing the province's pension money into capital markets. It has also promised that Guangdong's rate of return will be no lower than that on a two-year deposit.

    The council, which manages about 800 billion yuan, has a record of making sound investments. Over the past decade, it has realized a 9.17 percent annual yield by investing into equities and corporate and government bonds. Its equity investments, which on average make up 19.22 percent of its total assets, have an annualized yield of 18.61 percent, according to data from the council. Those results are better than those obtained by most Chinese mutual funds.

    Local media have reported that Guangdong's experiment with investing pension funds could be extended to other parts of the country if it proves successful.

    亚洲综合无码一区二区| 精品人妻中文av一区二区三区| 无码精品人妻一区二区三区影院| 久久久这里有精品中文字幕| 18禁无遮拦无码国产在线播放| 中文字幕精品一区二区三区视频| 精品亚洲成α人无码成α在线观看| 人妻丰满熟妇AV无码区HD| 无码少妇一区二区浪潮av| 免费无码成人AV在线播放不卡| 久久亚洲AV无码精品色午夜| 美丽姑娘免费观看在线观看中文版 | 亚洲成av人片在线观看天堂无码| 亚洲av无码一区二区三区在线播放| 亚欧成人中文字幕一区| 丰满白嫩人妻中出无码| 欧洲人妻丰满av无码久久不卡| 无码丰满熟妇juliaann与黑人| 亚洲韩国—中文字幕| 天堂а√在线中文在线| 色视频综合无码一区二区三区| 日韩精品无码免费一区二区三区 | 日韩AV片无码一区二区三区不卡| 好看的中文字幕二区高清在线观看| 精品久久久久久无码国产| 国产在线无码不卡影视影院| 无码AV岛国片在线播放| 一本加勒比hezyo无码专区| 四虎影视无码永久免费| 日本无码色情三级播放| 日韩成人无码中文字幕| 日本爆乳j罩杯无码视频| 少妇性饥渴无码A区免费| 内射人妻少妇无码一本一道| 日韩人妻无码精品专区| 精品亚洲AV无码一区二区 | 最新高清无码专区| 久久久无码精品亚洲日韩京东传媒| 免费看无码特级毛片| 中文无码伦av中文字幕| 亚洲精品~无码抽插|