Global EditionASIA 中文双语Français
China Daily / 2021-01 / 14 / Page008

State-owned enterprises helping bail out social security fund

By LI YANG | CHINA DAILY | Updated: 2021-01-14 00:00

Over the past two years, the State has transferred 1.68 trillion yuan ($260 billion) from 93 State-owned enterprises and financial agencies to the social security fund, the Ministry of Finance said on Wednesday.

The outbreak of the novel coronavirus has reduced the social security fund's income. Therefore, supplementing it with capital from State-owned enterprises and financial agencies is a timely move to guarantee the sustainability of the fund that is of vital importance to social stability.

The State-owned enterprises are legally bound to fill in the financing gaps of the fund. The Chinese society is aging at a fast rate. It is estimated that those above the age of 65 will account for 14 percent of the country's overall population next year; by 2050, China could have 500 million people aged over 60.

Report cites rights progress in Tibet

Most Viewed

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US