www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Markets

Pension funds 'not obliged' to prop up stock market

By Zheng Yangpeng (China Daily) Updated: 2015-08-29 07:19

Pension funds 'not obliged' to prop up stock market

An investor watches an electronic board showing stock information at a brokerage office in Hangzhou city, Zhejiang province, Aug 24, 2015.[Asianewsphoto by Long Wei]

State Council approves channeling up to 600b yuan into nation's equity market

China's pension funds do not have the obligation to prop up or rescue the country's turbulent stock market, a top official said on Friday amid popular expectations for the funds to do so.

Up to 600 billion yuan ($97 billion) could be channeled into China's equity market after the State Coucil gave final approval on Sunday to allow pension funds access to the stock market. These funds will be able to invest up to 30 percent of their net assets in the country's stocks, stock index futures and government bond futures, a departure from the requirement that the massive funds could only park money in low-yielding bank deposits and Treasury bonds.

However, the news did not stop an 8.5 percent plunge the following day as investors were not optimistic on the short-term effect of the decision.

You Jun, deputy minister of the ministry of human resources and social security, told a news briefing that the National Council for the Social Security Fund will prudently make investment decisions with the intention of protecting and growing the fund.

"The funds do not have the obligation to prop up or rescue the stock market, as many hoped it would," said You.

China had 3.5 trillion yuan in pension funds as of the end of 2014, and about 2 trillion yuan can be invested after setting aside funds for pension payments, You said. China can ensure "stable" long-term return of the funds.

Responding to how long it will take the funds to flow into the market, Deputy Finance Minister Yu Weiping dodged a definite answer.

He said the government is drafting rules for pooling and transferring the myriad funds and investments into the stock market. It will take place after specific rules are made and the funds pooled.

"We are actively making the rules and hope it would come out as soon as possible. The entrusted agencies also have the right to decide when to invest," Yu said.

China's pension funds are a patchwork system that is mostly overseen by city and county-level governments, and it has proved difficult to consolidate them even at the provincial level. To consolidate the funds means local governments will cede control of the money to a centralized organization, the most challenging part of the work, experts said.

Yu said the Finance Ministry is considering incentives, such as tax breaks, to encourage local governments to do so.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 亚洲天堂久久精品成人 | 手机看片国产免费 | 国产精品视频自拍 | 亚洲精品天堂自在久久77 | 成人国产一区二区 | 在线观看视频99 | 国产成人亚洲综合欧美一部 | 国产一级片大全 | 在线观看日韩www视频免费 | 黄性色 | 成 人 黄 色 视频播放16 | 国产精品爱久久久久久久小 | 九九视频在线观看视频6 | 免费看一级 | 黄色三级三级三级 | 免费一级在线观看 | 在线成人免费观看国产精品 | 亚洲男人的天堂在线观看 | 另类专区欧美 | 私人玩物福利 | 亚洲国产精品久久网午夜 | 一个人看的www日本视频 | 亚洲视频网站在线观看 | 精品国产一区二区三区在线 | 欧美日韩亚洲综合久久久 | 国产农村一二三区 | 四虎午夜剧场 | 亚洲爆爽| 免费人成网站免费看视频 | 国产高清天干天天视频 | 91在线精品亚洲一区二区 | 精品国产网站 | 亚洲 自拍 欧美 综合 | 欧美激情综合亚洲一二区 | 久久黄色视屏 | 日韩欧美一级a毛片欧美一级 | 亚洲三级在线播放 | 成人精品视频在线 | 一级做a爰在线就看 | 久久久久免费 | 91欧洲在线视精品在亚洲 |