BEIJING — China's pension funds are in a stable condition and payments are guaranteed, Minister of Finance Liu Kun told a news conference on Sept 24.

From January to July this year, the income of the corporate basic pension funds was 2.2 trillion yuan (about $311 billion) while total expenditure stood at 2 trillion yuan, Liu said.

The cumulative balance of pension funds stood at 5 trillion yuan, he added.

However, some provincial regions have difficulty in balancing pension funds due to aging populations and imbalanced population flows, Liu said.

More efforts including increasing the proportion of the central adjustment fund will be made to ensure the fairness and sustainability of the country's pension system.