China basic pension fund posts 0.33% investment gain in 2022 By Reuters

© Reuters. A view of town skyline, forward of the annual Nationwide Folks’s Congress (NPC), in Shanghai, China February 24, 2022. REUTERS/Aly Track/File Photograph

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% acquire in 2021, the Nationwide Council for Social Safety Fund stated on Saturday.

The shrink in yield was primarily impacted by deep modifications in international financial and political conditions and rising fluctuations within the monetary markets, the state investor stated in an announcement.

China’s inventory benchmark CSI 300 misplaced 21.6% in 2022 and thus far this 12 months is down 7.4%.

The essential pension fund manages a complete 1.62 trillion yuan by the top of 2022, and has posed an annual common acquire 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 12 months of 2022, it stated in a report in September.