<p>China has selected 21 investment management institutions for its pension insurance fund, bringing it one step closer to investing up to $290 billion in its financial markets.</p>
<p>The investment management institutions include some of the country's biggest asset managers, insurers and investment banks, such as China Asset Management Co., Ping An Insurance, and CITIC Securities, the National Council for Social Security Fund (NCSSF) said on its website on Tuesday.</p>