China’s national pension fund has chosen five funds in which it will invest up to US$1 billion this year, Reuters reported. Dai Xianglong, Chairman of the National Council for Social Security Fund said investments in private equity and funds was important for the country’s development of its financial sector. He said the pension fund was also evaluating participation in some domestic banks’ fund-raising plans. Dai said the US$130 billion pension fund as well as the US$300 billion sovereign wealth fund managed by China Investment Corp were eager to find overseas investment targets.
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