March 5, 2018 / 1:27 AM / in 7 months

China social security fund's 2017 annual returns at more than 9 pct

BEIJING, March 5 (Reuters) - China’s social security fund’s annual investment returns surpassed 9 percent in 2017, a senior official at the fund said on Monday.

Lou Jiwei, the chairman of the National Council for Social Security Fund (NCSSF), spoke to Reuters on the sidelines of the annual parliament meeting on Monday.

Established in 2000, China’s social security fund was designed to aid the country’s aging population and be a strategic reserve to support future social security expenditure.

The fund had an investment return of 1.73 percent in 2016 and oversaw 2.04 trillion yuan ($300.11 billion) in assets, according to state media reports. (Reporting by Xiaochong Zhang; Writing by Yawen Chen; Editing by)

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