China’s pension funds increase investment activity

Date: 09:29, 25-07-2018.

Beijing. Jul 25. Silkroadnews - Local authorities in China have become more active using pension funds for investment, as the country faces the problem of an aging population, China Plus reports.
By the end of June, 14 provincial regions, including Beijing and Shanghai, have signed contracts to provide 585 billion yuan (about $87 billion) of pension funds to the National Council for Social Security Fund (NCSSF), said Lu Aihong, spokesperson for the Ministry of Human Resources and Social Security.
According to Lu, 371.65 billion yuan from this amount have already been invested.
With this, he said, the ministry will continue to encourage regions to put pension funds into investments and at the same time strengthen risk management to ensure long-term and stable investments.
As an important part of the pension reform, pension fund investments are aimed at addressing the problem of an aging society and promoting a fair and sustainable pension system.
Between January and June this year, the revenue of pension funds, unemployment funds and occupational injuries in China totaled 2.65 trillion yuan, 19% more than last year, while total expenditure was 2.15 trillion yuan, which is 18% more.

Share the news: