China’s NCSSF to Invest $1.5 Billion in China Development Bank

China’s National Council for Social Security Fund is planning to invest $1.5 billion in the China Development Bank. The money will be used to help strengthen the capital base of the bank. The fund can hold up to a 2.19% stake in the bank. The National Council for Social Security Fund has also invested in other major Chinese state banks such as the Industrial and Commercial Bank of China, Bank of China, and the Bank of Communications.

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