The $130 billion National Social Security Fund (NSSF) of China has added 16 new stocks listed on the Shanghai and Shenzhen bourses to its investment portfolio, Reuters reports, citing Securities Times. The move indicates that the government is seeking to rescue the country’s struggling stock markets.
The state pension fund has invested in a total of 180 stocks on both exchanges at the end of the third quarter, compared to 168 in the previous year. The fund may have injected billions to boost the local stock markets, while a unit of China’s sovereign wealth fund had said earlier it would pick up more shares of the big banks of the country.
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