On Financial Risk Control of Chinese Employ's Pension Fund Investment and Operation

The major capital markets for employ's pension fund are stock market and company and government bond market. The development of Chinese capital market is still not perfect. The stock market investment rate is in high fluctuation. And the bond market lacks of diversification and its term structure is not reasonable. Due to the previous facts, Chinese annuity fund investment must stress financial risk management and control. The operation of employ's pension fund must take some financial risk control strategies to strengthen the control of risk in investment, operation and management and also to design some risk compensation systems.