Social security fund boosts equity investment

China's social security fund manager said Monday that the fund will allocate around 22.7 billion yuan (3.6 billion U.S. dollars) for equity investment, with the size of the capital set to reach about 30 percent of the fund's total value.

The percentage marks an increase from the 10-percent limit approved by the State Council, or China's Cabinet, in April 2008, when it allowed the National Council for Social Security Fund (NCSSF) to make investments in industrial funds and equity investment funds.

A press release from the NCSSF said the fund is currently investing in 16 equity investment funds with a total value of 81.8 billion yuan.

First established in 2000, the NCSSF had managed assets worth 868.82 billion yuan as of the end of 2011.