久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

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: 老司机亚洲精品影院在线 | 成年人看的毛片 | 亚洲欧美视频网站 | 久草最新网址 | 一及黄色 | 日韩欧美一区二区三区免费观看 | 中文字幕综合 | 中文字幕在线观看91 | 欧美性极品hd高清视频 | 久久毛片免费看 | 国产午夜精品一区二区 | 久久久国产精品免费视频 | 成人一级片在线观看 | 国产精品免费看久久久香蕉 | 亚洲在线观看视频 | 亚洲免费美女视频 | 久草视频在线免费播放 | 精品国产亚洲一区二区在线3d | 国产成人午夜精品影院游乐网 | 中国a级淫片免费播放 | 日本免费久久 | 九九香蕉网 | 亚洲天堂视频一区 | 亚洲成人免费在线 | 欧美激情视频一级视频一级毛片 | 久久久久久免费播放一级毛片 | 国产欧美一区二区精品性色 | 一级毛片免费 | 成人 欧美| 欧美成人自拍 | 久久免费小视频 | 美国黑人特大一级毛片 | 久久w5ww成w人免费不卡 | 一级毛片观看 | 国产精品毛片在线更新 | 国产香蕉成人综合精品视频 | 草草视频免费在线观看 | 乱子伦xxxx | 成人黄网18免费观看的网站 | 女人张开腿让男人捅爽 | 成人亚洲精品一区二区 |