SHANGHAI : The basic pension fund managed by China’s social security fund gained 5.1 billion yuan, or 0.33 per cent in 2022, down from a 4.9 per cent gain in 2021, the National Council for Social Security Fund said on Saturday.
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 per cent in 2022 and so far this year is down 7.4 per cent.
The basic pension fund manages a total 1.62 trillion yuan by the end of 2022, and has posed an annual average gain of 5.4 per cent 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 per cent, or 138 billion yuan loss for the year of 2022, it said in a report in September.
Source: CNA
