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Stocks may gain from new moves
By Lydia Chen |
February 18, 2011, Friday
|
Print Edition
Print Edition
NEW measures to manage China's myriad enterprise annuity funds may inject more than 100 billion yuan (US$15.19 billion) into the securities markets and increase the ceiling of their stock investments to 30 percent, according to a media report.
To take effect soon the measures will raise the cap for stock investments by 10 percent from 20 percent while also boosting the cap on fixed income investment up to 95 percent from 50 percent, China Securities Journal reported yesterday.
The annuity funds are expected to grow to 350 billion yuan this year, which means that up to 105 billion yuan will be allowed to buy stocks. An additional 46.1 billion yuan on average have been pumped into the funds in the past four years.
The news of extra capital in the stock markets followed reports by several major investment firms, including Goldman Sachs and Morgan Stanley, which said international money is withdrawing from emerging markets such as China for developed economies are seeing a stronger recovery.
To take effect soon the measures will raise the cap for stock investments by 10 percent from 20 percent while also boosting the cap on fixed income investment up to 95 percent from 50 percent, China Securities Journal reported yesterday.
The annuity funds are expected to grow to 350 billion yuan this year, which means that up to 105 billion yuan will be allowed to buy stocks. An additional 46.1 billion yuan on average have been pumped into the funds in the past four years.
The news of extra capital in the stock markets followed reports by several major investment firms, including Goldman Sachs and Morgan Stanley, which said international money is withdrawing from emerging markets such as China for developed economies are seeing a stronger recovery.
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