WSJ: China to allow social-security fund to buy local-government bonds

In the Wall Street Journal:

• China's State Council, or cabinet, announced measures on Wednesday to boost returns at the nation's social-security fund, expanding its investment scope to include local-government bonds and other financial instruments.
  
  The new rules allow the fund to invest up to 20% of its portfolio in local-government debt and corporate bonds, according to a statement on the main government website. Previously, the fund was allowed to invest up to 10% of its portfolio in corporate debt, but not in local-government debt.
  
  The measures will enable the fund to "appropriately expand the scope of investments, diversify risk and make a stable increase in its investment returns," according to the statement.

More at the article, but it is gated: China Expands Social-Security Fund Investments to Local-Government Debt