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Eighty Million Chinese Farmers Take Out Old Age Insurance
During the period of the Ninth Five-Year Plan period (1996-2000), insurance in China's rural areas saw sustainable development. Old age insurance covered 76 percent of towns and townships across China.
According to the State Development Planning Commission, China has strengthened its welfare system. A social security system has also been established.
By the end of the year, 103 million urban employees will be covered by old age insurance, while 110 million will be covered by unemployment insurance and 50 million will be provided with medical insurance.
By the end of last year, 6,629 community service centers had been set up and homes for the elderly covered 73 percent of towns and townships across the country.
In addition, 668 cities and 1,682 counties across China established a basic living standard system. Some 5.26 million people benefited from the system.
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