A province in southern China will transfer about 100 billion yuan ($15.8 billion) worth of local pension funds to the National Council for Social Security Fund and allow the social security fund to manage the money by investing in capital markets, according to a report in the China Securities Journal
A bulk of the money would be invested in fixed-income assets, while an estimated 30% to 40% of the funds could go into the stock market, according to the report on the publication's English-language website, which didn't cite a source
The report didn't disclose the name of the province
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