NSSF TAKES OVER 10% LISTED STATE-OWNED SHARES
AsiaInfo Services, June, 2009
AsiaInfo Services 06-23-2009 NSSF Takes over 10% Listed State-owned Shares BEIJING, Jun 23, 2009 (SinoCast Daily Business Beat via COMTEX) -- The listed companies in China's Mainland are asked to transfer 10% of their publicly-traded state-owned shares to National Social Security Fund (NSSF) as from June 19, 2009. Meantime, pursuant to the new policy of the Ministry of Finance, State-owned Assets Supervision and Administration Commission (SASAC), China Securities Regulatory Commission and National Council for Social Security Fund, NSSF shall still obey the lock-up obligation as for the transferred restricted state-owned shares.
National Council for Social Security Fund was set up in August 2000 to operate and manage NSSF. SASAC of China's State Council is reported...
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