Established in August 2000, the National Social Security Fund is a national social security reserve fund, which consists of central budget allocation, state-owned capital transfer, fund investment income and funds raised by other means approved by the State Council. The supplement and adjustment of social security expenditures such as endowment insurance earmarked for the peak period of population aging shall be managed and operated by the National Social Security Fund Council (hereinafter referred to as the Social Security Fund Council). The national social security fund is different from social insurance funds such as basic pension and basic medical care managed by local governments, with different sources of funds, operation management and uses. Social security fund is a special fund established for the implementation of social security system in accordance with the provisions of relevant national laws, regulations and policies. Social security funds are generally set up according to different projects, such as social insurance funds, social relief funds and social welfare funds. Among them, social insurance fund is the most important part of social security fund.

China's social security fund (hereinafter referred to as social security fund) refers to the social security fund that is centrally managed by the central finance, managed by the National Social Security Fund Council (hereinafter referred to as the Council), and consists of funds allocated by the reduction of state-owned shares and equity assets, funds allocated by the central finance, funds raised by other means approved by the State Council and their investment income. The investment scope of social security funds is limited to bank deposits, buying and selling treasury bonds and other financial instruments with good liquidity, including listed securities investment funds, stocks, corporate bonds with credit ratings above investment, financial bonds and other securities. The sources of funds for the National Social Security Fund include financial budget allocation, income from the reduction of state-owned shares, income from lottery public welfare funds and investment income. Among them, the financial budget allocation is 1 148 billion yuan, accounting for 67%, the income from reducing state-owned shares is 26 1 billion yuan, accounting for 15%, and the income from lottery public welfare fund is 129 billion yuan, accounting for 8%. As a national strategic reserve, the national social security fund needs to maintain and increase its value through investment and operation. In terms of investment and operation, the investment principle of the National Social Security Fund is "safety first, focusing on efficiency".