US$300b fund by 2015
Source: Xinhua |
April 12, 2010, Monday
|
Print Edition
Print Edition
CHINA'S national Social Security Fund will more than doubled to US$300 billion in 2015, Dai Xianglong, its chief, said yesterday.
The fund's current size is US$130 billion, Dai said at the annual conference of the Boao Forum for Asia in south China's island province of Hainan.
The SSF is ready to invest in unlisted companies and private equity funds, said Dai, chairman of the National Council for Social Security Fund.
Dai, a former central bank governor, said China needs not only to attract foreign investment but also to expand channels for overseas investment as the country's foreign exchange reserves have risen to US$2.4 trillion.
The fund will also promote cooperation between emerging economies, he said.
The emerging economies will contribute more to global economic growth in the next 10 to 20 years, but they also face growth challenges, including inflation, transformation of economic growth pattern and volatile international capital flows, Dai said.
The emerging economies face inflationary pressure after an explosive growth in lending last year aimed at reviving growth amid the financial crisis, Dai said.
The export-driven growth in countries like China not only costs a huge amount of resources, but also leads to many trade frictions, he said, adding that future growth should stress more on consumption.
The fund's current size is US$130 billion, Dai said at the annual conference of the Boao Forum for Asia in south China's island province of Hainan.
The SSF is ready to invest in unlisted companies and private equity funds, said Dai, chairman of the National Council for Social Security Fund.
Dai, a former central bank governor, said China needs not only to attract foreign investment but also to expand channels for overseas investment as the country's foreign exchange reserves have risen to US$2.4 trillion.
The fund will also promote cooperation between emerging economies, he said.
The emerging economies will contribute more to global economic growth in the next 10 to 20 years, but they also face growth challenges, including inflation, transformation of economic growth pattern and volatile international capital flows, Dai said.
The emerging economies face inflationary pressure after an explosive growth in lending last year aimed at reviving growth amid the financial crisis, Dai said.
The export-driven growth in countries like China not only costs a huge amount of resources, but also leads to many trade frictions, he said, adding that future growth should stress more on consumption.
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