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Policy Address ︳ The 10 years of the Exchange Fund’s profits are sufficient for the whole people to send another 10,12 times to increase the total asset value by 80%

2020-11-24T10:37:35.376Z

[Exchange Fund/Policy Address/Government Financial Philosophy] In the "Policy Address", the government used the previous 300 billion rescue measures to cause the government to "water tight". It may not have too many new measures. However, the original total value



Research Institute

Written by: Bowsman

2020-11-24 08:00

Last update date: 2020-11-24 08:00

[Exchange Fund/Policy Address/Government Financial Philosophy] In the "Policy Address", the government used the previous 300 billion rescue measures to cause the government to "water tight". It may not have too many new measures.

However, the original exchange fund with a total value of trillions has earned as much as 918.4 billion yuan through investment in the past 10 years. Half of the income comes from bonds, while Hong Kong stocks only account for about 10% of investment income. Calculating 71 billion yuan, the profit is enough to send another 10,000 yuan to the whole people 12 times.

The average return of the Exchange Fund in the past 10 years was 2.9%, of which only 2015 recorded a loss.

Last year's rate of return was as high as 6.6%, second only to 7.4% in 2017.

It is worth noting that a total of 93.9 billion yuan has been lost in foreign exchange investment over the past 10 years, and it is necessary to rely on other investment products to earn income.

Bonds have contributed the most investment income in the past 10 years, accounting for 46.9%. The reason is that the Exchange Fund has heavily held bonds.

Taking 2019 as an example, bonds accounted for 70% of the investment portfolio, followed by foreign stocks which accounted for 12.7%, and Hong Kong stocks only accounted for 4.6% of the investment portfolio.

The Exchange Fund also repatriates part of its revenue to the government treasury every year. In the past 10 years, the total amount involved is 412.9 billion yuan, but the reversal has not hindered the growth of the Exchange Fund. The total asset value of the Exchange Fund also increased by 80% from the 2.3 trillion yuan in 2009 to 2019 The 4.2 trillion yuan of the government’s investment in society is well-equipped to use the proceeds of the Exchange Fund to pave the way for future development.

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01Exchange Fund Monetary Authority of Research Institute

Source: hk1

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