China. Pension fund investment grows steadily
BEIJING, July 23 (Xinhua) — Local governments in China have entrusted more pension funds for investment as the country faces the challenge of an aging population, a human resource official said Monday.
By the end of June, 14 provincial-level regions including Beijing and Shanghai had signed contracts to entrust a total of ¥585 billion (about US$87 billion) in pension funds to the National Council for Social Security Fund (NCSSF), according to Lu Aihong, spokesperson with the Ministry of Human Resources and Social Security.
Of the total, ¥371.65 billion is already in place and has been invested, Lu told a press conference.
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