© Reuters. A view of the city skyline, ahead of the annual National People’s Congress (NPC), in Shanghai, China February 24, 2022. REUTERS/Aly Song/File Photo
SHANGHAI (Reuters) – The basic pension fund managed by China’s social security fund gained 5.1 billion yuan, or 0.33% in 2022, down from a 4.9% gain in 2021, the National Council for Social Security Fund said on Saturday.
The shrink in yield was mainly impacted by deep changes in global economic and political situations and increasing fluctuations in the financial markets, the state investor said in a statement.
China’s stock benchmark CSI 300 lost 21.6% in 2022 and so far this year is down 7.4%.
The basic pension fund manages a total 1.62 trillion yuan by the end of 2022, and has posed an annual average gain of 5.4% since the end of 2016, when the national social security fund started to manage the pension’s investment.
Separately, the national social security fund reported a 5.07%, or 138 billion yuan loss for the year of 2022, it said in a report in September.
Read the full article here
