China Social Insurance Update: Growth in Coverage and Fund Balances

2024-05-04 06:56:10

Couple: Lisa | Keywords: China, economy, insurance
French.china.org.cn| Updated 04-05-2024

Xinhua News Agency |04. 05. 2024

The number of people covered by basic old-age insurance in China was 1.07 billion at the end of March 2024, an increase of 14.34 million people from the same period last year, data published by the Ministry of Human Resources and Social Security show.

By the end of March 2024, 240 million people were covered by unemployment benefits, an increase of 4.49 million year-on-year, the data showed.

The number of people covered by occupational accident insurance was 290 million at the end of March, an increase of 5.58 million people.

In the first quarter of 2024, the income of the three social insurance funds was 2.2 trillion yuan (regarding $309.58 billion), and the total expenditure was 1.8 trillion yuan, leaving a cumulative balance of 8.6 trillion yuan at the end of March , shows data. .

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