Pension fund’s return on investment rises

    CHINA’S national pension fund Friday reported its return on investment rose to 11.43 percent last year, from 6.20 percent in 2013.

    The fund, which manages national pensions as well as retirement money for nine provinces and cities, has had an average annual return of 8.36 percent since it was established in 2000, the National Council for Social Security Fund said. At the end of 2014, the fund had total assets under management of 1.529 trillion yuan (US$245 billion) and obligations of 78 billion yuan. The fund invests in a range of financial products in the domestic and global markets, including bonds, trusts, stocks and funds.

    Merchants Bank profit up 8.06%

    CHINA Merchants Bank Co. said Friday its unaudited net profit was 55.91 billion yuan (US$8.95 billion) in 2014, up 8.06 percent from the previous year.

    The Shenzhen-based lender didn’t give reasons for the earnings improvement in a statement. It posted a 25.1 percent rise in operating income in 2014 to 165.9 billion yuan, up from 132.6 billion yuan from a year ago.

    Shenhua Energy issues short-term debt

    CHINA Shenhua Energy Co., which lists shares in Hong Kong and Shanghai, said Friday it issued 5 billion yuan (US$801 million) in super short-term debentures to supplement its working capital.

    The firm, China’s largest coal producer by output, said that super short-term debentures carry an annual interest rate of 4.39 percent with a maturity of 270 days.

    Shares up for fifth day on reform moves

    CHINA’S shares rose for the fifth straight day Friday, capping their best week in nearly two months, as fresh reform measures helped sustain sentiment in thin trade.

    Shares rose after China’s central bank allowed firms operating within the Shanghai free trade zone to borrow funds without having to go through complicated regulatory hurdles, fuelling hopes that further reforms would inject vigor into the sluggish economy. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 0.8 percent to 3,469.83, while the Shanghai Composite Index gained 1.0 percent to 3,203.83 points. For the week, the CSI300 rose 4.8 percent, while the Shanghai Composite advanced 4.2 percent.