South Korea pension fund to trade Chinese securities
Beijing - Arabstoday
South Korea's largest pension fund, the National Pension Service (NPS), has received approval from authorities to invest in Chinese securities. The company said in a statement that it was the first pension fund in the world to win the qualified foreign institutional investor (QFII) status. NPS will now be able to trade yuan-denominated mainland stocks and bonds. The approval comes as South Korean President Lee Myung-bak heads to Beijing on Monday. NPS is the fourth-largest pension fund in the world.
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