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National Social Security Fund signs trusteeship agreement with ICBC |
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10:25, July 07, 2007 |
The National Council for Social Security Fund signed a trusteeship agreement with the Industrial and Commercial Bank of China (ICBC) in Beijing Friday.
Following the Bank of Communications and the Bank of China, the ICBC becomes the third entrusted bank of the National Social Security Fund.
By the end of 2006, the capital of the National Social Security Fund had reached 282.77 billion yuan.
The sources of the National Social Security Fund include fiscal allocation of the central government, capital and equity assets derived from reduction of state-owned shares and capital raised in other manners with approval of the State Council.
Source: Xinhua
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