| Pension fund chief: China to further expand overseas investment |
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| Sunday,July 05,2009 Posted: 15:48 BJT(0748 GMT) |
| From:Chinadaily Article type:Reproduced |
Dai Xianglong, chairman of the National Council for Social Security Fund (SSF), China's pension fund, said Friday that China will further expand its overseas investment in diversified means.
Speaking at the 2009 Global Think Tank summit in Beijing, Dai said those going overseas can be either State-owned enterprises or private companies and investments can be strategic moves or purely financial investments. In addition, more investment deals can be arranged via financial agencies besides direct investments.
But other countries should understand and welcome normal investment from China to achieve balance, Dai said, noting some countries are not open to Chinese investments in fear of their possible government influence.
There were reports last month that the SSF had chosen several fund management companies to conduct its overseas investment, but the SSF did not confirm the issue nor give any timetable for its overseas plans.
The national SSF had total assets of 562.4 billion yuan ($82.34 billion) at the end of 2008. Its realized gains last year stood at 23.36 billion yuan, against a nominal loss of 102.1 billion yuan, according to the fund's annual report released in May.
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