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China to Open Stock Markets to Pension Funds

China said Friday that local pension funds will soon be able to invest up to $94 billion in domestic shares, in a bid to boost investment returns. The Finance Ministry made the announcement following the State Council’s finalization of measures to grant pension funds access to local shares for the first time. Vice Finance Minister Yu Weiping vowed to kick-start the funds’ investment operations “as soon as possible." Under the new initiative, up to 30 percent of that capital can...

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