Social Security Funds may hit 1t yuan

2011-03-09 12:38:15 GMT2011-03-09 20:38:15(Beijing Time) Xinhua English

Dai Xianglong, chairman of China's National Council for Social Security Funds, said the asset of funds may reach 1 trillion yuan ($148.70 billion) by the end of this year. And it could hit 1.5 trillion yuan by 2015, Shanghai Securities News reported Wednesday.

The asset managed by the Social Security Funds currently amounts to 850 billion yuan, of which 45 percent is invested in fixed income products, 30 percent in stocks and 25 percent in equity of unlisted companies and private equity, Dai said.

More institutional funds may be invested in the stock markets in the future, and that will make the market more stable, Dai added. He also said the Social Security Funds will increase investments in subsidized housing and private equity.

Only 7 percent of the funds were invested overseas, Dai said, and the proportion could rise to 20 percent in the future, according to the report.

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