中国养老保险基金将投资股市
英语课
Amid worries about the pension fund's low investment return over the past years, the Ministry of Human Resources and Social Security (MHRSS) released a draft guideline that allows the fund to be invested in the stock market.
Ministry spokesperson Li Zhong says there are certain restrictions on such investments.
"The guideline restricts the maximum proportion of investment in stocks and equities to 30 percent of total net assets. The proportion is set to help manage risks in such investments. In practice, the actual proportion and timing are not managed by the government but rather by authorized market institutions. Such investments may not reach the maximum proportion very quickly."
Besides the stock market, the fund may also be invested in government and corporate bonds, major national construction projects and leading state-owned enterprises.
Li adds that more than 2 trillion yuan or 327 billion U.S. dollars from the pension fund can be used for diversified investments.
中国养老保险基金将投资股市
This means about 600 billion yuan or 97 billion U.S. dollars could theoretically go into the stock market.
People's opinions are divided on the move.
"I personally support this plan. I think it is bound to happen. It's a new investment channel like Alibaba's Yuebao. You can make a profit if you invest well."
"I don't think it's a good idea to allow pension fund to invest in the stock market. How do you control the risks in such investments?"
In terms of risk control, the ministry says managers will be asked to set up reserve fund valued at 20 percent of management fees and 1 percent of yearly returns to offset losses.
Professor Yang Yansui with Tsinghua University says the government is able to guarantee the safety in pension fund investment.
"Pension fund is the lifeline for retirees. Many countries regard it as sovereign fund. So we need to have a market mechanism and authorized institutions to manage the fund. And special legislation will be rolled out to manage the risks in pension fund investments."
Currently, the pension fund can only invest in bank deposits and treasuries which has been strongly criticized due to rigid management and low returns.
The national outstanding pension fund stood at over three trillion yuan or around 500 billion U.S. dollars at the end of last year.
The guideline is the government's latest attempt to address the problems of an aging population, including a diminishing work force growth and weak domestic consumption.
For CRI, I'm Luo Wen.
标签:
养老保险