Social security fund earns .7 bln in 2016 through prudent investment: report

Updated 2017-06-14 09:33:39 Global Times

China's social security fund has grown rapidly with stable gains in recent years thanks to prudent investment and legal operation, which helps maintain and increase the fund's value, National Council for Social Security Fund (NCSSF) said in a report on Monday.

In 2016, investment profits stood at 31.9 billion yuan (.7 billion) and the investment yield was 1.73 percent, according to the council.

The fund was established in August 2000 to help China's aging population and support social security expenditures, according to information on the NCSSF's website.

The funding sources include individual contributions, central government appropriations and proceeds from the public welfare lottery, said the NCSSF.

Cumulative investment profits reached 822.7 billion yuan with an average annual investment yield of 8.37 percent, the report said.

As of the end of 2016, assets totaled 2.04 trillion yuan, of which inbound investment assets accounted for 93.3 percent and outbound investment assets took up 6.7 percent, according the report.

The fund often favors small-capitalization shares of companies that have a strong financial performance and pay high dividends, the China Securities Journal reported Tuesday, citing China Investment Securities.

Apart from some consumer goods sectors including pharmaceuticals, food, beverages and clothing, investment in rising industries such as technology, media and telecommunications is also enjoying popularity, the securities firm was quoted as saying.

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