China's national social security fund posted an investment return of 8.1 percent in 2024, earning 218.42 billion yuan (about 30.72 billion U.S. dollars), according to an annual report released on Tuesday.
The National Council for Social Security Fund (NCSSF), which manages the assets of the national social security fund, stated in its report that by the end of 2024, the total assets of the fund had topped 3.32 trillion yuan.
The fund has achieved an average annual investment return of 7.39 percent since its inception, with a total accumulated investment income exceeding 1.9 trillion yuan, according to the report.
The national social security fund comprises allocations from the central government, transferred state-owned capital, investment income from the fund, and funds raised in other ways approved by the State Council.
In 2024, a net fiscal allocation of over 69.64 billion yuan was made to the national social security fund. By the end of 2024, more than 1.21 trillion yuan of fiscal funds and stocks had been allocated to the fund.
From the perspective of investment scope, the approved domestic investment of the social security fund includes bank deposits, bonds, stocks, and equities. The approved scope of overseas investment includes money market products such as bank deposits, bonds, stocks, and derivative financial instruments used for risk management.
An official from the NCSSF said that in 2024, the NCSSF strengthened market research, adhered to the long-term investment concept, actively optimized the asset allocation strategy, and continuously improved the investment and operation capabilities of the fund. As a result, the fund achieved good investment performance.
China's social security fund reports 8.1 pct investment return in 2024
Efforts are underway in Gaza City to salvage what remains of the territory's cultural heritage after nearly two years of war.
At the ruins of the Great Omari Mosque, Gaza's oldest and largest mosque, Palestinian workers have been clearing and sorting stones dating back more than 1,200 years using basic tools.
"The Great Omari Mosque represents the heart and soul of Gaza City, and Palestine as a whole. The value of these stones is not in their size, but in their deep and layered historical significance," said Husni Al-Mazloom, manager of the Great Omari Mosque restoration project.
Only fragments of the mosque's minarets and a few of its external walls remain standing.
"During the war, it was not only people, trees, and buildings that were targeted, but also thousands of years of human history. Most historical sites in Gaza City were struck and destroyed in an attempt to erase the historical identity of Gaza's people," said Palestinian historian Ayman Al-Balbisi.
Progress on the restoration project has been extremely slow, as Israel continues to restrict the entry of construction materials, even after nearly eight weeks of ceasefire.
On a positive note, however, the project provides locals with more income.
"Before working here, we were unemployed. When this opportunity became available for me and 20 other workers, it allowed us to provide for our families and cover basic needs. During the war, there was no work available for us at all," said worker Ali Al-Qaloushi.
Palestinians have accused Israel of deliberately targeting heritage sites. But Israel denied, saying its strikes followed international law and targeted Hamas tools near or beneath these locations.
The United Nations Educational, Scientific and Cultural Organization (UNESCO) has verified damage to 145 religious, cultural and historical sites in Gaza since October 2023, raising fears of irreversible loss in a territory whose history spans more than 5,000 years and carries the imprint of numerous civilizations.
Gazans race to preserve cultural heritage after two years of war
