China's social security funds balance reaches 7.36 tln yuan in H1

Updated 2017-08-30 09:54:08 Xinhua

China's social security funds maintained a stable balance in the first half (H1) of this year, with both revenue and expenditure seeing fast growth, the country's finance minister said Tuesday.

The total balance of social security funds stood at 7.36 trillion yuan (1.11 trillion U.S. dollars) by the end of June this year, said Finance Minister Xiao Jie at a five-day bimonthly session of the National People's Congress Standing Committee that opened Monday.

Revenue of the funds increased 28.8 percent to 3.14 trillion yuan (476.3 billion U.S. dollars) in H1, while expenditure climbed 23.8 percent to 2.47 trillion yuan (374.7 billion U.S. dollars), he said.

Xiao attributed the rise in both revenue and expenditure partially to the reform of pension system of government agencies and institutions. Few provinces started reforms this year.

He also said that fiscal authorities have been implementing proactive policies, ensuring stable fiscal operations. In the first seven months, national general public budget revenue increased 10 percent to 11.08 trillion yuan (1.68 trillion U.S. dollars), while expenditure climbed 14.5 percent to 11.7 trillion yuan (1.77 trillion U.S. dollars).

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58December 16 2017 01:44:29

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16December 16 2017 01:44:29

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18December 16 2017 01:44:29

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords