China pension fund posts 0.33% gain in 2022
The basic pension fund managed by China’s social security fund gained RMB 5.1 billion, or 0.33% in 2022, down from a 4.9% gain in 2021, the National Council for Social Security Fund said on Saturday, reports Reuters. 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 RMB 1.62 trillion 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 RMB 138 billion loss for the year of 2022, it said in a report in September.
Read more @chinaeconomicreview
