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National retirement fund to follow 'prudent' strategy

(Xinhua)
Updated: 2008-04-11 16:30

Dai Xianglong, chairman of the National Council for Social Security Fund (SSF), reaffirmed in Beijing on Friday that China would continue to follow a prudent, long-term and value-oriented investment strategy for the National Social Security Fund (NSSF).

The NSSF is a national compulsory retirement fund.

Dai made his comments during an ongoing SSF meeting.

Dai, the newly appointed chairman of the SSF, said that the market value of the fund's assets under management rose to 516.2 billion yuan ($73.7 billion) at the end of 2007, up 189.4 billion yuan year-on-year.