摘要
The key to sustainability of social security fund is increasing its value, while the key to increasing the value of the social security fund is income of agency entrusted investment. Agency relationship of social security Fund involves four agents, among which the entrustment between National Council for Social Security Fund （SSF） and social security fund management company is a key element. Due to information asymmetry phenomenon in the entrustment management process, the fund needed to establish the appropriate entry and exit criteria, and relying on a third party to avoid agency risks.
