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The total assets of China's social security fund stood at 171.1 billion yuan (US$20.87 billion) at the end of last year, according to the fund's 2004 annual report made public Tuesday.
Total realized operating revenues for last year was 4.59 billion yuan (US$559 million) in 2004 with an investment yield rate of 3.32 percent over the previous year, according to the report.
The fund's total assets at the end of last year were 38.3 billion yuan more than the number released on March 28 by the National Council for Social Security Fund. Xiang Huaicheng, chairman of the council, said in March the fund's total assets reached 170.8 billion yuan (US$20.83 billion) at the end of 2004.
According to the report published by China Securities Journal, the net increase of the amount of the fund was 33.4 billion yuan (US$3.5 billion) last year. This figure includes a net allocation of 27.85 billion yuan (US$3.39 billion) by the country's finance ministry.
The capital of the fund has been invested in by 10 selected fund managing companies for profits in capital markets, including investment as banking deposits, treasury bonds, shares of banks, and corporate bonds.
The fund has commissioned 10 selected fund managing firms to manage its capital assets according to guidelines by the fund's council.
(Xinhua News Agency June 1, 2005)
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