China's social security fund manager said on September 17 that around 22.7 billion yuan ($3.59 billion) would be allocated for equity investment, with the size of the capital set to reach about 30 percent of the fund's total value.

The percentage marks an increase from the 10-percent limit approved by the State Council in April 2008, when it allowed the National Council for Social Security Fund (NCSSF) to make investments in industrial and equity investment funds.

A press release from the NCSSF said the fund is currently investing in 16 equity investment funds with a total value of 81.8 billion yuan ($12.94 billion).

First established in 2000, the NCSSF had managed assets worth 868.82 billion yuan ($137.45 billion) as of the end of 2011.