Reporters' Log

Put State-owned shares into pension fund

By Zhang Ran (chinadaily.com.cn)
Updated: 2009-03-03 16:50

The Revolutionary Committee of the Chinese Kuomintang suggested that 30 to 40 percent of State-owned shares traded on the stock market in the future should be put into the National Social Security Fund (SSF), the largest State-run pension fund in China, and used for social security in rural areas.

Around 2.6 trillion to 4.3 trillion State-owned shares will be unlocked to trade in the stock market in the next two and a half years.

"With 30 percent of these shares being put into SSF, 780 billion yuan will be available for social security in the rural areas, which is currently in a fund shortage," the party said on the first day of the 11th National Committee of the Chinese People's Political Consultative Conference.

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