Home / Business / Finance

Social security fund opens stock market accounts

By Xie Yu | | Updated: 2013-02-21 17:14

China's national social security fund opened 30 new trade accounts in January to expand investment in the domestic stock market, the Shanghai Securities Journal reported on Thursday.

The new accounts set a monthly high not seen since November 2008, which shows the strong willingness from national institutions to enter the stock market, the paper said.

The benchmark Shanghai Composite Index rose 186.38 points, or 8.77 percent in January, which strongly boosted the confidence of large and small investors. Some analysts said they believe the rise could be a signal of a bull market coming back.

Last year, China's social security fund bought shares worth 42.8 billion yuan ($6.9 billion), Guo Shuqing, chairman of the China Securities Regulatory Commission, said recently.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349