The assets of China’s National Council for Social Security Fund ended 2012 at 1.11 trillion yuan ($178.9 billion), up 27.5% from the year before, according to an announcement Tuesday on the fund’s website.
The announcement said the fund — launched on Aug. 1, 2000, to oversee a “social security strategic reserve” as well as money for individual accounts — enjoyed an investment return of 7%, or 64.5 billion yuan, for the year.
A transfer of 52.6 billion yuan from the central government, up 9% from the previous year, was another factor behind the 239 billion yuan increase in the fund’s assets from the year before.
Other funding sources mentioned on the NCSSF website include allocations from lottery proceeds as well as capital or equity derived from the reduction or transfer of shares in state-owned enterprises. Details on those sources of assets over the past year weren’t immediately available.
For 2013, the announcement said further enhancing investment decision-making and overall management of the fund would be a priority.
