Pension funds' investment choices may widen

The country is poised to widen the scope of permitted investments for the pension funds of public institutions, regulators said on Friday.

The news came amid a dramatic rally in the nation's equities market. The benchmark Shanghai Composite Index gained 1.94 percent to end at 4,034.31 points - the first time it finished above the 4,000 level since 2008.

The China Securities Regulatory Commission said that it will support qualified securities firms and mutual funds to manage the pension funds for civil servants and public-sector employees through market-based investment channels.