CHINA'S US$70 billion national pension fund will boost equity stakes in domestic companies and invest in the infrastructure industry, its chairman said.
The fund had "almost no subprime-related losses," chairman Dai Xianglong said yesterday in Suzhou.
The Beijing-based fund will mainly invest in domestic securities and will gradually expand overseas, Dai said. Improved returns will help the Beijing-based pension fund extend coverage to more of the country's 1.3 billion people as their average age rises.
In November 2006, the National Council for Social Security Fund, or NSSF, appointed UBS AG and nine other fund managers to help it invest overseas. NSSF had put US$1.7 billion of its money abroad by the end of 2007.