China’s pension fund to join the new Silk Road investment spree
China’s 2 trillion yuan (US$290 billion) national pension fund will hop onto the country’s new Silk Road bandwagon, joining other state-backed institutions to seek lucrative deals along the route.
Wang Zhongmin, a vice-chairman of the National Social Security Fund (NSSF), said the fund would take a go-slow and low-key approach, but he conceded that a bag of investment deals are in the pipeline.
“We will do investments along the route,” he told the South China Morning Post . “We are resolute in going abroad, but I can’t disclose details of the projects and investment figures.”
The NSSF, a reserve fund used to supplement local pension pools, will follow on the heels of the country’s powerful institutions including China Development Bank, the US$54.5 billion Silk Road Fund, Import and Export Bank of China and other financial juggernauts to fund the grand project officially known as the Belt and Road Initiative.
Full Content: South China Morning Post
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