China’s National Social Security Fund (NSSF) will begin investing in private equity abroad, Reuters reported, citing state media. Its chairman, Dai Xianglong, said the NSSF is currently in the process of selecting managers for its portfolio and establishing a base in Hong Kong. The fund plans to make investments in unlisted foreign firms, especially small- and medium-sized companies. The NSSF currently holds about US$103 billion in assets, of which 45% is in fixed-income investments, 30% in stocks and 25% in domestic private equity. International investments currently account for just 7% of its total assets.
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