The Financial Department of the Ministry of Finance has issued a letter on soliciting opinions from the public on the draft of the Measures for the Administration of Domestic Investment of the National Social Security Fund. The Financial Department of the Ministry of Finance pointed out in the explanation on the "Draft Measures for the Administration of Domestic Investment of the National Social Security Fund (for soliciting opinions)" that the direct investment scope of the Social Security Fund is limited to bank deposits, interbank certificates of deposit, eligible direct equity investments, industrial funds, equity investment funds (including venture capital funds), preferred stocks, approved stock index investments, and trading open index funds. Considering the large scale of the national social security fund and the formation of investment scale effects, in order to further promote the preservation and appreciation of the national social security fund, it is considered to refer to the investment supervision methods and practices of the basic pension insurance fund, combined with relevant regulatory reform directions, and moderately reduce the upper limit of management fees and custody fees. Among them, the annual management fee rate for stock products shall not exceed 0.8%, and the annual management fee rate for bond products shall not exceed 0.3%; The annual management fee rate for currency and cash products shall not exceed 0.1%; The annual fee rate for equity investment fund management shall not exceed 1.5%; The annual custody fee rate extracted by the custodian shall not exceed 0.05%. At present, the maximum investment ratios of stocks and equity assets can reach 40% and 30% respectively, further improving the investment flexibility of the national social security fund and conducive to sustained support for the development of the capital market. (Lai Xin She)