China’s Pension Fund Hits 400B Yuan – Xinhua

From Xinhua via China Daily:

The value of China’s social security fund had reached 400 billion yuan (US$53.3 billion) by the end of June this year, said Wang Zhongmin, deputy director of China’s National Council for Social Security Fund (NSSF). The security fund reported a profit rate of 15.2 percent in the first half of 2007, making an operating profit totaling 147.9 billion yuan (US$19.7 billion), Wang told a social security forum.

…”The fund is still insufficient to the country’s huge population of 1.3 billion,” said Wang, saying the ideal amount of social security fund should be two trillion yuan (US$266 billion)….[Full Text]

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