Fund to invest in CDB
Source: Xinhua |
April 28, 2011, Thursday
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Print Edition
Print Edition
THE National Council for Social Security Fund has promised to invest 10 billion yuan (US$1.5 billion) in China Development Bank, one of the country's three policy lenders, the bank announced yesterday.
Under a contract signed by both sides, as well as by the Ministry of Finance and Central Huijin Investment Ltd, the investment will allow the SSF to hold a 2.19 percent stake in the CDB as a strategic investor.
The SSF investment is part of the bank's reform program and will help boost its capital, the CDB said in a press release.
Under a contract signed by both sides, as well as by the Ministry of Finance and Central Huijin Investment Ltd, the investment will allow the SSF to hold a 2.19 percent stake in the CDB as a strategic investor.
The SSF investment is part of the bank's reform program and will help boost its capital, the CDB said in a press release.
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