So­cial se­cu­rity fund boost

Global Times - - Biz Update -

An of­fi­cial with the Na­tional So­cial Se­cu­rity Fund ( NSSF), China’s pen­sion fund, said there have been dis­cus­sions about whether to put sev­eral tril­lion yuan worth of un­listed State as­sets into the fund.

Wang Zhong­min, a vice- chair­man of the NSSF, made the re­marks at a sem­i­nar held in Hangzhou, East China’s Zhejiang Prov­ince on Wed­nes­day, do­mes­tic news site thep­a­per. cn re­ported.

The size of un­listed State as­sets is colos­sal, but the whole idea is still un­der dis­cus­sion among gov­ern­ment agen­cies, and there is no time­frame or clear idea of how much of these as­sets will be trans­ferred to the so­cial se­cu­rity fund, Wang said.

Ac­cord­ing to Wang, the NSSF cur­rently has 2.5 tril­lion yuan ($ 380 bil­lion) in as­sets un­der man­age­ment with an an­nu­al­ized re­turn ra­tio of 8.37 per­cent over the last 16 years.

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