(Yicai Global) Aug. 18 -- China’s national pension fund had a 15.8 percent return on investment last year, the most since it was set up in 2000 and almost double the 20-year average of 8.5 percent, official figures showed today, due in part to Chinese stock markets reaching multiyear highs.

The National Social Security Fund made CNY378.7 billion (USD58.4 billion) in 2020, according to the annual report published by its manager, the National Council for Social Security Fund.

The NSSF’s assets totaled CNY2.9 trillion (USD417 billion) at the end of last year, with just 9.7 percent invested outside of China and some 65 percent entrusted to other fund and asset management firms.

China allocated almost CNY31.4 billion to the social security fund in 2020, including money from the government‘s fiscal expenditure budget and national lottery proceeds.

The NSSF -- established to provide a reserve of funds for China’s social security system -- has had total investment income of CNY1.6 trillion since its creation. It consists of central budget appropriations, state-owned capital transfers, fund investment income, and funds raised by other methods approved by the State Council, the country’s cabinet.

Editor: Futura Costaglione