A view of the city skyline, before the annual National People’s Congress, in Shanghai, China on February 24, 2022. Photograph: Ali Song/Reuters. Obtaining licensing rights
SHANGHAI, Nov 4 (Reuters) – The basic pension fund managed by the China Social Security Fund gained 5.1 billion yuan, or 0.33 percent, in 2022, down from 4.9 percent in 2021, the National Council of China’s Social Security Fund said on Saturday.
The government investor said in a statement that the shrinkage in returns was mainly affected by profound changes in global economic and political conditions and increased volatility in financial markets.
China’s CSI 300 stock index (.CSI300) lost 21.6% in 2022, and so far this year is down 7.4%.
The basic pension fund will manage a total of 1.62 trillion yuan by the end of 2022, and has achieved an average annual gain of 5.4% since the end of 2016, when the National Social Security Fund began managing pension investments.
Separately, the National Social Security Fund reported a loss of 5.07%, or 138 billion yuan for 2022, it said in a report in September.
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Report from Shanghai newsroom; Edited by Michael Perry
Our standards: Thomson Reuters Trust Principles.
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