China’s social security fund boosts stakes in A-share firms in first 7 months, data shows
National Social Security Fund increases onshore stock stakes, targeting tech as state pension returns hit 5.76 per cent
“[The fund] is investing in China’s tech sector to capture its faster growth rate,” said Gary Ng, senior economist for Asia Pacific at Natixis Corporate and Investment Bank. “It should be positive for those who are chosen by long-term capital.”
The buying came as the CSI 300 Index, which tracks the 300 largest and most liquid stocks listed on the Shanghai and Shenzhen exchanges, slipped 0.98 per cent on Monday, bringing its year-to-date decline to 3.7 per cent. Global sell-offs in artificial intelligence stocks have spilled over into A shares.
China’s National Social Security Fund concentrated its holdings in semiconductors, electronics and components, which accounted for 58.96 per cent of its total portfolio value, the data showed.
The fund backs the country’s social welfare system – including pension, medical and unemployment insurance. Its pension fund managed a total of 3.5 trillion yuan (US$518.4 billion) in assets in 2025, according to its report released on Saturday.
The fund holds its largest stake in chipmaker Espressif Systems, followed by moulded-fibre packaging manufacturer Zhongxin Group.