China's national pension fund earned more than 100 billion yuan (US$13.6 billion) of returns this year, buoyed by rising stock markets, the agency said yesterday.

 

The pension fund is expected to end this year with 500 billion yuan in assets, said Xiang Huaicheng, chairman of China's National Council for Social Security Fund, in Beijing.

 

"We've earned magnificent returns this year, but everyone has," Xiang said. "The market's been crazy."

 

(Shanghai Daily December 24, 2007)