The National Social Security Fund (NSSF) has been investing in real estate developers to increase confidence in the property sector, the South China Morning Post reported. The investments are seen as a way for Beijing to support the sector, which was not included in the government’s stimulus package due to fears that it could lead to over-investment and excessive price growth. The NSSF has bought 11.9 million shares of Shanghai Shimao, 4.17 million shares of Beijing North Star, and increased its holdings in RiseSun Real Estate Development, Tianjin Realty Development and Huafa Industrial. The real estate sub-index of the Shanghai Stock Exchange has risen 64.8% this year, while the Shanghai Composite Index had risen 27.7% at yesterday’s close.
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