Funds News
- State Councillor urges risk control in social security fund management
Date: 13-Apr-2007 Sources: (Xinhua Online)
Chinese State Councilor Hua Jianmin on Thursday urged better controlling risks in management of the National Social Security Fund.
The National Council of Social Security Fund (SSF) should ensure safety of the money, a strategic reserve fund accumulated by the central government to support future social security expenditure, while striving for added value, Hua said at a meeting of SSF.
The SSF earned a return of 9.34 percent, amounting to 19.6 billion yuan, on its investment last year, according to latest figures.
'It is the best result since the fund was established,' said Hua.
The fund's total assets were valued at 282.8 billion yuan at the end of 2006.
The council plans to invest more than 100 billion yuan in 2007, with investment in equities capped at 30 percent.
The fund and the council were founded in 2000 to help cope with social security needs when aged population reaches high levels.
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