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Industry News Jun. 15, 2017
BEIJING, June 13 (Xinhua) -- China's social security fund had a stable investment performance last year despite downward economic pressure, the fund's operator said Tuesday.
The National Council for Social Security Fund said they made 31.94 billion yuan (4.7 billion U.S.dollars) in investment profit last year.
It said the annual investment yield for the national social security fund in 2016 stood at 1.73 percent.
Investment profits have totalled 822.731 billion yuan since it was established in 2000, with an average annual investment yield of 8.37 percent.
By the end of 2016, the fund's managed assets totalled 2 trillion yuan
The fund was designed to aid the country's aging population and be a strategic reserve to support future social security expenditure.
The funding sources include fiscal allocation from the central government, allocation of proceeds from the public welfare lottery, individual contributions and capital raised by other methods approved by the State Council.
(Source: Xinhua)
