BEIJING -- China"s social security fund saw a return on investments of 4.27 percent last year, according to the body that manages the fund's investment. The fund, run by the National Council for Social Security Fund, earned investment income totaling 113.18 billion yuan (about $16.63 billion) last year, data from the council showed. The total assets of the fund reached over 3 trillion yuan by the end of last year, with about 9 percent of them being overseas investments. The fund has achieved an average annual return rate of 8.3 percent since its establishment in 2000, the council said.
BEIJING - China has started nationwide pooling of basic pension funds since Jan 1 this year, Vice Minister of Finance Yu Weiping said Tuesday. The move will allow pension funds to be transfered from regions with surplus to regions with deficit, Yu said at a press conference, adding the ministry is drawing up related documents and will strengthen guidance to localities. Qi Tao, an official from the Ministry of Human Resources and Social Security, said the move will make sure that retirees in less-developed regions will get their pensions timely and sufficiently. According to Qi, all Chinese regions realized the