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CHINA> National
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National pension fund reports 43% return in 2007
(Xinhua)
Updated: 2008-06-30 23:47 BEIJING -- China's national government pension fund, the Social Security Fund (SSF), has reported operating income of 145.35 billion yuan (21.2 billion US dollars) for 2007, with a return rate of 43.19 percent. The performance was achieved during last year's stock market rally, when the benchmark Shanghai Composite Index nearly doubled. Realized gains stood at 112.92 billion yuan, while the nominal profit was 32.43 billion yuan, the SSF said in its annual report for 2007. Income from consigned investment was 93.13 billion yuan, a seven-fold increase from 2006. Interest income from bank deposits and bonds totaled 3.97 billion yuan and 823 million yuan, respectively. In 2006, the SSF's operating income was 61.98 billion yuan and the rate of return was 29.01 percent. The SSF had total assets of 439.69 billion yuan at the end of 2007, an increase of 156.80 billion yuan from 2006. Its direct investment in bank deposits, bonds, index products, stakes, trust funds, asset-backed securities and industrial funds was 232.75 billion yuan, or 52.94 percent of the total. The remainder was invested through domestic and foreign wealth management companies. The SSF had a market value of 516.15 billion yuan at end-2007. |
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