The annual return rate of the pension funds entrusted for investment by local governments in China has reached 5 percent since the end of 2016, according to a report released on Saturday by the National Council for Social Security Fund (NCSSF).
The local pension fund is part of the basic pension fund. China started market operation of the basic pension fund in December 2016, with the aim of preserving and increasing its value.
Since then, the local pension funds managed by the NCSSF have earned an investment income of 306.671 billion yuan (about 43.4 billion U.S. dollars), achieving an average annual investment return rate of 5 percent, says the report.
In 2023, investment income of the local pension funds amounted to 39.589 billion yuan (5.6 billion U.S. dollars), with an investment return rate of 2.42 percent, it says.
According to the report, the total assets of the basic pension funds had reached over 2.23 trillion yuan (about 315.81 billion U.S. dollars) by the end of 2023.
China's local pension fund investment achieves 5 pct average annual return: report
Medical supplies have rapidly dwindled in the Gaza Strip after Israel closed all crossings amid escalating tensions with Iran, leaving hospitals and patients struggling to obtain essential medicines.
Israel announced on Feb. 28 the closure of all crossings into the Gaza Strip, including the Rafah land crossing, until further notice, citing security concerns. The move halted the delivery of humanitarian aid into Gaza.
The disruption of supply routes has rapidly depleted medicine stocks across the enclave, with many commonly used drugs beginning to run out, placing mounting pressure on hospitals and patients.
Some widely used drugs have already run out at Al-Awda Hospital in central Gaza as the staff there are checking remaining supplies.
"This is your medicine, but now it's out of stock," a staff member at the hospital's pharmacy told a patient.
"This type of medicine isn't available at the hospital. I will try to find it elsewhere," said the patient.
The hospital said that more than 85 percent of medical consumables is now out of stock. Painkillers, antibiotics, surgical and anesthetic drugs, as well as diagnostic reagents, are all in severe shortage. Some commonly used medications for chronic diseases such as hypertension and diabetes have also become difficult to obtain.
"Every day the warehouse informs us that a certain medicine has run out, so we keep searching for alternatives. Patients are also looking everywhere for medicines, but often they still cannot find them," said the head of the medicine warehouse at Al-Awda Hospital.
Crossing closures leave hospitals in Gaza Strip facing shortage of essential medicines
