Investments boost China security fund
Print Edition
CHINA’S social security fund gained 139 billion yuan (US$22 billion) from investment in 2014, with an 11.4 percent return on investment, the National Council for Social Security Fund said yesterday. The rate of return outperformed 2013’s 6.2 percent.
Founded in 2000, the fund is designed to solve the country’s aging problem as well as being a strategic reserve to support future social security expenditure. By the end of last year, the fund’s managed assets totaled over 1.5 trillion yuan. The fund manager vowed to improve yields this year by strengthening the scientific and lean management on fund investments. Between 2010 and 2013, losses incurred due to bad management totaled 17.5 billion yuan.
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