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Established: 2000
US$ Billion: 146.5
Origin: Non-commodity
Entity Structure: Fund
Transparency Rating: 5
Summary:
Established in August 2000, the Central Committee of the Communist Party and State Council decided to create the National Social Security Fund (NSSF) which is to be administered by the National Council for Social Security Fund (SSF).
This reserve fund is mainly funded by capital and equity assets derived from reduction of state-owned shares, fiscal allocation of the central government, and other investment proceeds. The SSF which manages the fund is a government agency on the ministerial level directly under the State Council of the People's Republic of China
Strategy & Objectives:
The NSSF invests domestically however, they are beginning to invest in emerging market economies and Europe. They also plan to allocate up to 20% of the fund into foreign investments usually through external money managers rather than taking direct stakes. In addition, the fund is now allowing investments into private equity, similar to that of the China Investment Corporation.
10/29/2009
China's pension fund to grow to 1 trillion yuan in a year
Reuters reports that, "China's national pension fund is preparing to boost private equity investments as the fund is expected to grow to 1 trillion yuan ($146.5 billion) in a year, up from $80 billion at the end of last year, Chairman Dai Xianglong said on Wednesday.
Dai, head of China's National Social Security Fund (NSSF) and a former Chinese central bank governor, also said that the global currency system dominated by the dollar would gradually shift to one comprising of the dollar, euro and Asian currencies such as the yuan in the aftermath of the financial crisis. 'Big changes are taking place, but they don't happen overnight,' Dai told a financial conference in Shanghai. 'Reforming the irrational international financial system is necessary, but it's a gradual, long-term process.'
China and some other developing countries are seeking more say in the global financial system as the world economy reels from fallout linked to the U.S. subprime mortgage lending crisis. Dai said that China, Russia, India and other export-reliant economies hoped to see a stable dollar, but expressed concern over the currency's fate."
read more: Reuters
5/6/2009
China's Social Security Fund reports 2008 loss
China Daily reports that, "China's national government pension fund, the Social Security Fund (SSF), reported its first annual loss since its founding eight years ago, losing 6.79 percent on its investments in 2008. The loss mainly reflected last year's A-share market plunge, as the benchmark Shanghai Composite Index tumbled about 60 percent, according to the SSF's annual report released Wednesday. Realized gains in 2008 stood at 23.36 billion yuan ($3.86 billion), against a nominal loss of 102.1 billion yuan, the SSF said."
read more: China Daily
10/14/2008
China pension fund to buy into China Development Bank
China's national pension fund will likely pay CNY20 billion ($2.9 billion) to CNY30 billion to buy an unspecified stake in China Development Bank, China Business News reported Wednesday, citing unnamed sources. China Development Bank, a policy lender that was recently converted into a stockholding company by Beijing, may also introduce China National Offshore Oil Corp. and China National Petroleum Corp. as strategic investors, the paper said.
The Ministry of Finance and China Central Huijin Investment Co., an investment arm of the country's $200 billion sovereign wealth fund, each hold a 50% stake in China Development Bank.
read more: Market Watch
8/26/2008
China's pension fund in talks on private equity fund launch
China's national pension fund is in talks with CITIC Capital Holdings to set up a private equity fund worth up to five billion yuan (730 million dollars), state media reported Wednesday.
The National Social Security Fund has not finalized how much it will invest in the fund, the China Business News reported, citing an unnamed source. It did not specify which other investors might be involved.
read more: AFP
National Council for Social Security Fund for The People's Republic of China
1. All figures quoted are from official sources, or, where the institutions concerned do not issue statistics of their holdings, from other publicly available sources.
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