CHENGDU, Jan. 9 (NBD) -- South China's Guangxi Zhuang Autonomous Region will invest 40 billion yuan (5.77 billion US dollars) of pension funds in financial markets, according to an entrusted investment contract signed by the local government with the National Council for Social Security Fund (NCSSF).

Guangxi is the first province in China that has inked such investment agreement since the State Council's release of the Measures for the Administration of Investment in Basic Pension Insurance Funds.

This marks China's entrusted investment of pension funds has entered a substantial stage.

Out of the coastal province's investment planned, 30 billion yuan (4.33 billion US dollars) were transferred to the NCSSF at end of 2016 for investment, with the remaining 10 billion yuan (1.44 billion US dollars) expected to be transferred in 2017.

Email: lansuying@nbd.com.cn