The National Council for Social Security Fund (NCSSF) has signed investment contracts worth a total of 430 billion yuan ($64.86 billion) with nine provincial governments, of which 180 billion yuan of pension funds has already been invested, China’s Ministry of Human Resources and Social Security (MOHRSS) said in a briefing on Wednesday.

The MOHRSS did not indentify the provinces or give more details.

The MOHRSS will step up fund investment and strengthen supervision and management of social security fund operation in the next stage.