China's NSSF fund reports big gains on bank shares
BEIJING, March 29 |
BEIJING, March 29 (Reuters) - China's National Social Security Fund (NSSF) has invested heavily in the shares of some big domestic banks, earning returns of more than 25 percent in the last three to four years, Dai Xianglong, the head of the pension fund, said on Monday.
Dai told reporters that the fund's investments included Bank of China (3988.HK) (601988.SS), China Construction Bank Corp (0939.HK) (601939.SS) and Industrial and Commercial Bank of China (601398.SS)(1398.HK).
The NSSF had an investment return last year of 16.1 percent. Its average annual investment return over its nine-year history is 9.75 percent. ($1=6.826 Yuan) (Reporting by Zhou Xin and Alan Wheatley; Editing by Jonathan Hopfner)
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