Social insurance system covers more each year
Updated: 2006-09-24 21:46
China's social insurance system covers 6 percent more Chinese annually in
recent years, said Tian Chengping, the Minister of Labor and Social Security
China has basically formed the framework of its social security system, said
Tian at the first annual meeting of the China Social Security Forum.
By 2005, China had accumulated 606.6 billion yuan (US$75.8 billion) of social
insurance funds for basic pension, unemployment, employment injury, maternity
and basic medical insurance, with an annual income growth of 20 percent in
recent years, said Tian.
Tian said the national social security fund has added up to more than 200
From 1998 to 2005, more than 24 million laid-off workers from state-owned
enterprises benefited from basic living allowances, while over 19 million were
reemployed, said Tian.
In that period, 160 million more retired workers were included in the basic
pension insurance system, with 252.8 billion yuan of pension granted, said