China basic pension fund posts 0.33% investment gain in 2022

[November 04, 2023]  SHANGHAI (Reuters) - The basic pension fund managed by China's social security fund gained 5.1 billion yuan, or 0.33% in 2022, down from a 4.9% gain in 2021, the National Council for Social Security Fund said on Saturday. 

A view of the city skyline, ahead of the annual National People's Congress (NPC), in Shanghai, China February 24, 2022. REUTERS/Aly Song/File Photo

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% in 2022 and so far this year is down 7.4%.

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% 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%, or 138 billion yuan loss for the year of 2022, it said in a report in September.

(Reporting by Shanghai Newsroom; Editing by Michael Perry)

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