2023-06-10 08:11:54
French.china.org.cn | Updated on 10-06-2023
China’s total corporate annuity fund reached 2.98 trillion yuan (regarding 419 billion U.S. dollars) by the end of the first quarter of this year, official data showed.
In the first three months, the investment return of these funds reached 44.02 billion yuan, with a weighted average rate of return of 1.55 percent, according to the Ministry of Human Resources and Social Security.
The country introduced company annuities in 2004 as a type of supplemental pension scheme to which both employers and employees must contribute.
By the end of March, a total of 133,512 companies and 30.59 million employees had joined these programs.
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