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Economy

100-bln-yuan pension fund in Shandong to enter the market

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2015-07-23 09:10CRIENGLISH.com Editor: Wang Fan

Provincial authorities in Shandong have been given approval to put 100 billion yuan of its public pension fund in Shandong into the Chinese market.

The money is going to be invested through the National Social Security Fund Council.

10 billion yuan worth of Shandong's pension fund has already been transferred to the Council for investment.

Shandong becomes only the 2nd province, after Guangdong, to invest part of its pension funds into the markets.

Under new regulations, Chinese authorities are allowing over 2 trillion yuan worth of pension fund money into the system.

However, only 30 percent of any provincial-level fund will be allowed into the stock markets to reduce risk.

Since first dumping 100 billion yuan into the markets in 2012, Guangdong has managed to gain 6 percent on its investments.

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