China’s social security fund had a stellar 2019, racking up a return on investment of 15.5%, the highest in 12 years, as it benefited from a recovery in the country’s stock and bond markets.
The figure was disclosed by Chen Wenhui, a vice chairman of the National Council for Social Security Fund (NCSSF), at a forum in Beijing on Saturday. The gain was almost double the average annual return of 8.15% earned since the fund was set up in 2000, and a stunning reversal of a 2.3% loss (link in Chinese) in 2018. The assets overseen by the council totaled 2.6 trillion yuan ($377 billion) at the end of 2019, Chen said, an increase of 18% over 2018 based on previously released data.