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Subsidies for Laid Offs, Retirees Guaranteed in China
The government's efforts to ensure the issuance of subsidies for factory layoffs and pension-holders have played an important part in facilitating the reforms of enterprises and ensuring economic development.
This was learned at the opening of a two-day national conference attended by heads of provincial-level labor and social security bureaus across the country.
According to official figures, by the end of May, China had 6. 82 million workers laid off from state-owned enterprises, of whom 96 percent have been registered at re-employment centers and 90 percent provided with government subsidies.
Ninety-eight percent of retired laid-off workers have received their pension on time.
In the meantime, the number of employees under the umbrella of pension insurance has reached 97.69 million, an increase of 2.67 million compared with the figure by the end of last year.
In 1998, the central leadership ordered governments at all levels to ensure that sufficient subsidies and pension to the layoffs and retirees be provided.
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