China's social security fund posts highest return in 11 years

China's Social Security Fund (SSF) last year earned the highest return on investment since 2009, as the domestic stock market boomed and it poured funds into advanced manufacturing, strategic emerging industries and technology innovation.

The fund reported earnings of 378.7 billion yuan ($58.4 billion) on its investments, 30% more than in 2019, the National Council for Social Security Fund (NCSSF), which runs the fund, said in its annual report published Wednesday. This represents a return of 15.84%, the highest in 11 years and almost double the annual average of 8.51% earned over the past two decades, according to fund figures. China's benchmark stock gauge, the Shanghai Composite Index, jumped 13.9% last year.