IN BRIEF (Page 14)

Pension funds

China's national pension fund may be allocated 10 percent of all State-owned companies' initial public offerings by the end of 2007, the China Securities Journal reported yesterday, citing unidentified sources. The national pension fund can choose to hold the shares if it sees growth potential in the companies, the newspaper said. Alternatively, it can sell the shares, it said without elaborating.

Bank buys stake