The massive Chinese pension fund is likely to buy nearly 600 billion yuan worth of A-shares from China-based companies in 2016, the People’s Daily newspaper reported.
With the fund currently managing almost 90 percent of China’s social security deposits, its total assets amounted to 3.98 trillion yuan in late 2015, according to the publication. The fund has the potential to invest 2 trillion yuan, the newspaper said.
The moves comes after months of turbulence on China’s stock markets and several devaluations of the yuan.
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