People’s Financial News – September 1
The National Council for Social Security Fund (NCSSF) has officially released the 2025 Annual Report of the National Social Security Fund (NSSF), unveiling outstanding investment performance and steady asset appreciation results for the past year.
Official data shows that the NSSF posted a total investment income of CNY 390.672 billion in 2025, with an annual investment return rate of 13.22%, delivering robust positive returns amid volatile market conditions.
In terms of long-term performance, since its establishment, the fund has recorded a cumulative investment income of CNY 2.29 trillion, with a stable average annualized investment return rate of 7.62%. The long-term yield has consistently outpaced inflation, effectively realizing the preservation and appreciation of national strategic reserve assets.
By the end of 2025, the total assets of the National Social Security Fund reached CNY 3.81 trillion, maintaining steady scale expansion. Adhering to a prudent and balanced asset allocation strategy, the fund’s direct investment assets stood at CNY 1.02 trillion, accounting for 26.81% of total assets, while entrusted investment assets amounted to CNY 2.79 trillion, occupying 73.19%. In terms of regional allocation, domestic investments accounted for 84.77% and overseas investments 15.23%, forming a stable portfolio with reasonable risk diversification.
Breaking down the annual income structure, the fund’s realized investment income reached CNY 192.261 billion in 2025, representing a realized return rate of 7.01%. Benefiting from favorable capital market performance, the fair value change of tradable assets contributed an additional CNY 198.411 billion in gains, significantly boosting the full-year investment performance and demonstrating the resilience of the fund’s diversified asset allocation strategy.
As the cornerstone of China’s social security system, the NSSF adheres to the principles of long-term investment, value investment and responsible investment. Having weathered multiple economic and market cycles, the fund has accumulated massive strategic reserves through stable returns and continuously consolidated the bottom line of people’s livelihood security.
Industry analysts pointed out that rigorous risk control, optimized asset allocation and professional entrusted operation are the core drivers of the fund’s long-term profitable performance. With the continuous maturity of China’s capital market and the improvement of diversified investment channels, the NSSF is expected to further expand its room for asset appreciation in the future.
Disclaimer: This article is for financial information reference only and does not constitute any investment advice.