我國首份養老保險基金投資年報出爐

China has for the first time disclosed the annual return of its basic pension fund investment.

我國近日首次披露了基本養老保險基金投資的年度收益。

Total return reached 8.78 billion yuan last year, with an annual return rate of 5.23%, according to new data released by the National Council for Social Security Fund (NCSSF).

全國社會保障基金理事會（社保基金會）發佈的最新數據顯示，2017年，基本養老保險基金投資收益總額達87.8億元，年收益率5.23%。

This is the first time for the NCSSF to publicize its annual yield since local governments began entrusting the fund in December 2016 with running parts of their vast pool of pension assets for higher yields.

2016年12月，地方政府開始委託社保基金會運營其規模龐大的養老金資產池中可投資部分以尋求更高收益，這是受託以來社保基金會首次公佈其年收益。

Locally-managed pension funds in China are traditionally stored in banks or used to purchase treasury bills with annual yields up to 2-3 percent, which were close to the so-called risk-free rate that is far below the market average and often depreciated due to inflation.

在我國，地方管理的養老保險基金通常是存在銀行，或是用來購買年收益率達2-3%的國債。這些方式的收益接近於所謂的無風險利率，但遠低於市場平均水平，並且經常因通貨膨脹而貶值。

"The return was nearly two percentage points higher than the risk-free interest rate in the capital market within the same period and reflects the advantage of concentrated investment in the form of funds," Guan Bo, an associate researcher with a government-run institute, said.

一家公立研究院的副研究員關博表示：“這一收益高於同期資本市場無風險利率水平近2個百分點，基金集中投資優勢得到充分顯現。”

NCSSF data also showed the basic pension fund had total assets worth 315.52 billion yuan by the end of last year, while outstanding liabilities stood at 33.62 billion yuan.

社保基金會的數據還顯示，截至2017年末，基本養老保險基金資產總額3155.2億元，負債餘額336.2億元。