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China's social insurance coverage continues to expand

Updated: Oct 22,2019 08:37 PM    Xinhua

BEIJING — China's social insurance coverage continues to expand, according to the Ministry of Human Resources and Social Security.

A total of 956 million people were covered by basic old-age insurance by the end of September, up 13.23 million from the end of last year.

About 203 million were enrolled in unemployment insurance by the end of September, up 6.42 million from the end of last year.

About 250 million people held work-related injury insurance by the end of September, up 11.36 million from the end of last year.

The total revenue of the three social insurance funds totaled 4.17 trillion yuan ($589.82 billion) by the end of September, up 6.3 percent year-on-year, and the total expenditures hit 3.91 trillion yuan, up 13.1 percent year-on-year.

The accumulated balance of the three social insurance funds stood at 6.72 trillion yuan at the end of September.

By the end of September, 18 provincial-level governments had signed contracts with the National Council for Social Security Fund for entrusted investment in basic pension funds, with a total contract value of 966 billion yuan, of which 799.2 billion yuan had been paid and began to be invested.

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