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pension fund chief kills hopes of early inflows

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The head of the mainland's National Social Security Fund yesterday shattered hopes that the pension scheme would begin investing in Hong Kong equities this year.

Xiang Huaicheng, attending a forum on mainland pensions organised by the Open University, said that regulations governing overseas investments by the fund would be issued before the end of this year.

The first overseas investments should not be expected before the middle of next year, the fund chairman said.

The central government last year approved overseas fund investment in principle, albeit with initial limitations of US$500 million to US$1 billion. Dikky Sinn

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HKEx takes another stab at china derivatives

Hong Kong Exchanges and Clearing (HKEx) yesterday announced its latest experiment with China-related index derivatives, following past failures of similar products due to the lack of interest from retail investors.

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