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Reporter:
The Chinese government says the move will boost investment returns for pension funds.
Vice1 Finance Minister Yu Weiping says pension funds across the entire country hit the 3.5 trillion yuan mark late last year.
"At the end of 2014, the accumulated balance of basic pension funds from the entire country was 3.5 trillion yuan. It includes 3.18 trillion yuan of the basic pension fund of urban workers, and pensions of residents in the countryside which have accumulated 380 billion yuan."
You Jun, vice minister of human resources and social security, says around 2 trillion yuan, or 327 billion US dollars, could be invested.
我国约2万亿养老金可用于投资
However, the timing2 of the investment will depend on preparations, as Yu Weiping says the National Social Security Fund (NSSF), the manager of local pension funds, will entrust3 professional investment firms to make actual investments.
China's State Council published on Sunday the final guideline on investment for the country's massive pension fund.
According to the guidelines, up to 30 percent can be invested in stocks, equity4 funds and balanced funds. The rest can be invested in convertible5 bonds, money-market instruments, asset-backed securities, index futures6 and bond futures in China, as well as major infrastructure7 projects.
You says the pension fund directly involves the interests of hundreds of millions of people, therefore, the government will protect the safety of such funds by making diversified8 investments.
"We will realize the protection and expansion of the fund's value on the basis of ensuring its safety. Safety comes first, and safety is our top priority. This is a principle we will always stick to."
You Jun believes pension investment will benefit the economy and the country's capital market, but the new rules are not designed to act as support for the volatile9 stock market.
Chinese shares have plunged10 more than 20 percent over the past week. The Shanghai stock index, which has rebounded11 since Thursday, is down about 11 percent this week.
China's pension fund was previously12 only deposited in banks or invested in treasury13 bonds. An estimate from Chinese Academy of Social Sciences says the fund depreciated14 by nearly 100 billion yuan in the past 20 years.
For CRI, this is Laiming.
点击收听单词发音
1 vice | |
n.坏事;恶习;[pl.]台钳,老虎钳;adj.副的 | |
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2 timing | |
n.时间安排,时间选择 | |
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3 entrust | |
v.信赖,信托,交托 | |
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4 equity | |
n.公正,公平,(无固定利息的)股票 | |
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5 convertible | |
adj.可改变的,可交换,同意义的;n.有活动摺篷的汽车 | |
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6 futures | |
n.期货,期货交易 | |
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7 infrastructure | |
n.下部构造,下部组织,基础结构,基础设施 | |
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8 diversified | |
adj.多样化的,多种经营的v.使多样化,多样化( diversify的过去式和过去分词 );进入新的商业领域 | |
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9 volatile | |
adj.反复无常的,挥发性的,稍纵即逝的,脾气火爆的;n.挥发性物质 | |
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10 plunged | |
v.颠簸( plunge的过去式和过去分词 );暴跌;骤降;突降 | |
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11 rebounded | |
弹回( rebound的过去式和过去分词 ); 反弹; 产生反作用; 未能奏效 | |
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12 previously | |
adv.以前,先前(地) | |
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13 treasury | |
n.宝库;国库,金库;文库 | |
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14 depreciated | |
v.贬值,跌价,减价( depreciate的过去式和过去分词 );贬低,蔑视,轻视 | |
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