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More pension fund may be invested in stock market

(China Daily)
Updated: 2007-04-04 09:17

China may allow an additional 15 billion yuan of domestic corporate pension funds to be invested in the country's stock market this year, the Shanghai Securities News reported, without citing anyone.

The investment, or 20 percent of more than 70 billion yuan of outstanding corporate pensions, will be handled by qualified domestic fund management companies, the newspaper said.

China is introducing corporate pensions to expand coverage to more of its 1.3 billion population as the average age rises and the cost of funding retirement benefits increases.