China to Allow Provincial Pension Funds to Invest in Stock Market

(Beijing) — China is preparing to allow money from provincial pension funds to be invested in the stock market to increase returns for retirees at a time when the country's population is aging.

After a review of more than a month, the National Council for Social Security Fund (NCSSF) said it had selected 21 investment firms to manage the pension fund money that is expected to flow into China's stock markets.