Social security fund boost
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.