LINE

Text:AAAPrint
Economy

China's pension funds sufficient: official

1
2019-03-07 13:13:01Xinhua Editor : Gu Liping ECNS App Download
Special: NPC, CPPCC Sessions 2019

China's overall income of the pension funds is greater than the expenditure, and the operation of the fund is in good condition, the finance minister said Thursday.

"Nationwide, China can ensure that the pension is paid on time and in full," Minister of Finance Liu Kun told a press conference on the sidelines of the annual legislative session.

Last year, the income of the corporate pension funds was 3.6 trillion yuan (536 billion U.S. dollars), while total expenditure stood at 3.2 trillion yuan, leaving a balance of 400 billion yuan, Liu said.

The cumulative balance of pension funds stood at 4.6 trillion yuan at the end of last year, he added.

In 2018, China established a system allowing the central authorities to adjust corporate pension funds at the national level, Liu said, adding that 22 provinces had benefited from the arrangement last year.

"Judging from current financial arrangements, each provincial region can achieve the balance of pension funds this year," he said.

 

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2019 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.