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In Desperation Move, China Allows State Pension Fund to invest up to 30% into Stock Market
johngaltfla.com / By John Galt / 23/08/2015
The desperation of the Central Planners of the Communist Party in China (and on Wall Street) is beginning to shine through once again in 2008 fashion. Today, per the South China Morning Post, this bit of news spells out the panic in Beijing:
The State Council said on Sunday that it will allow China’s pension fund to invest up to 30 per cent of its total 3.5 trillion yuan in net assets in equities and stocks, a likely bid to support the flagging market that billions of yuan in injected liquidity over the past week has failed to revive.
The much anticipated move from the top decision-making body was aimed at boosting returns at the fund, which has so far been limited to low-yielding treasury notes and bank deposits, Xinhua news agency reported.
The post In Desperation Move, China Allows State Pension Fund to invest up to 30% into Stock Market appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/08/23/in-desperation-move-china-allows-state-pension-fund-to-invest-up-to-30-into-stock-market/
