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China’s social security fund must contain risks

Updated: May 10,2017 7:15 AM     Xinhua

Vice-Premier Ma Kai speaks at a meeting of the National Council for Social Security Fund in Beijing on May 9, 2017.[Photo/Xinhua]

BEIJING — Vice-Premier Ma Kai on May 9 urged the social security fund to improve asset safety and contain financial risks.

At a meeting of the National Council for Social Security Fund, Ma said the council had realized sound investment returns, accumulated investment and management experience and nurtured a number of asset management professionals since its establishment.

To expand the fund, the council should focus on fund safety, maintaining and increasing fund value, Ma said.

The council should also improve management to prevent risk, raise the quality of its personnel and better help the country in tackling the aging problem and improving social security, Ma said.

Set up in 2000, the fund serves as a strategic reserve fund to supplement and adjust the social security spending, such as social insurance spending during the peak time of the aging of population.