Social Security Work Improves in China

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Last updated at: (Beijing Time) Thursday, December 13, 2001

Social Security Work Improves in China

China's social security work has been greatly improved in 2001, sources at a national conference on labor and social security being held said Wednesday.

China's social security work has been greatly improved in 2001, sources at a national conference on labor and social security being held said Wednesday.

Statistics show that an average of six million laid-off workers from state-owned enterprises are provided with basic living expenses every month, while some 31 million retirees draw pensions amounting to 169.2 billion yuan, 97 percent of which are deliveredthrough social channels.

Relevant departments have strengthened work on the re-employment of laid-off workers, unemployment insurance and reform of the distribution mechanism of domestic enterprises.

It is expected that unemployment insurance will cover 103.5 million people by the year's end. Some 3.5 million people will receive unemployment insurance payments, 1.6 million more than a year earlier.

By the end of October, 91 percent prefectures and cities had launched reform of their medical insurance systems, covering 61 million people.

It is expected that the unemployment rate will be under four percent by the end of this year.

Next year, the Ministry of Labor and Social Security plans to create new employment opportunities for eight million people and keep the unemployment rate at under 4.5 percent.

In order to achieve the goal, the ministry said it will further develop community service industries to create more job opportunities for laid-off workers, allocate labor resources according to market rules, enhance the professional skills and the innovation capabilities of workers, and gradually eliminate barriers to skill exchanges.

China's Social Security System Making Progress