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BIZCHINA / News
Social security fund signed trusteeship deal with ICBC
(Xinhua)
Updated: 2007-07-09 14:11
The National Council for Social Security Fund signed a trusteeship
agreement with the Industrial and Commercial Bank of China (ICBC) here
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.
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