© Reuters. A view of the town skyline, forward of the annual Nationwide Individuals’s Congress (NPC), in Shanghai, China February 24, 2022. REUTERS/Aly Music/File Picture
SHANGHAI (Reuters) – The essential pension fund managed by China’s social safety fund gained 5.1 billion yuan, or 0.33% in 2022, down from a 4.9% achieve in 2021, the Nationwide Council for Social Safety Fund stated on Saturday.
The shrink in yield was primarily impacted by deep adjustments in world financial and political conditions and rising fluctuations within the monetary markets, the state investor stated in a press release.
China’s inventory benchmark CSI 300 misplaced 21.6% in 2022 and up to now this yr is down 7.4%.
The essential pension fund manages a complete 1.62 trillion yuan by the tip of 2022, and has posed an annual common achieve of 5.4% for the reason that finish of 2016, when the nationwide social safety fund began to handle the pension’s funding.
Individually, the nationwide social safety fund reported a 5.07%, or 138 billion yuan loss for the yr of 2022, it stated in a report in September.
