Social Security System Reform Reviewed by China's Economy & Policy-Gateway International Group

27 Jun 2012 • by Natalie Aster

Generally speaking, the long-term prejudiced view treating the rural regions as inferior to the urban regions and the consistent urban growth sacrificing the interests of the peasantry not only have caused potential social contradictions, but also resulted in obstacles to the coordinated development of urban and rural economies. Thus the solid improvement of rural social security system is of great practical significance for both the steady development of society and the stimulation of rural economic vitality.

According to the report “The Proposals for the Rural Social Security System Reform in China” by China's Economy & Policy-Gateway International Group, the creation of a social security system is usually centered on the structure of social security funds in modern market economy countries. Specifically, the social security funds have several features. Firstly, their operating institutions could be government departments at all levels, specific social groups or enterprises. What the public usually refer to as “social security” is the government-sponsored social security fund, which requires the stipulation in the form of laws and the principle of benefiting the majority of people. In developed market economy countries, non-governmental institutions could also organize funds with various sizes and types in the light of legal provisions and commercial principles, to protect the interests of different groups of people - i.e., private pension funds. Secondly, its major mode of operation is that of a fund, which can gather various sources of capital and maintain and increase values through standardized operations, thereby diversifying risk for the participants and achieving maximum benefit, while achieving the social effects of mutual aid. Thirdly, the basic functions achieved by the social security fund mainly refer to the realization of specific welfare services, generally including retirement pension, health care, subsistence allowance, and so on.

Report Details:

The Proposals for the Rural Social Security System Reform in China
Published: May, 2012
Pages: 7
Price: US$ 200,00

In recent years, China’s economic scale has been constantly expanding, and its economic status in the world is also becoming increasingly prominent. However, the welfare that residents have received is not commensurate with the growth in national strength.

More information can be found in the report “The Proposals for the Rural Social Security System Reform in China” by China's Economy & Policy-Gateway International Group.

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