China created more than 12 million new jobs in cities and towns in 2011 and kept the registered urban unemployment rate below 4.6 percent, said the Ministry of Human Resources and Social Security.
The country's pension insurance system had been extended to cover 300 million people in rural and urban areas by the end of the year, with about 85 million senior citizens claiming their pensions every month.
According to the ministry, China's social security funds that insure pension, medical service, unemployment, work-related injury compensation and maternity pay collected 2.35 trillion yuan ($372 billion) in revenues last year, up 24.7 percent year on year.
Meanwhile, spending by social security funds rose 21.5 percent from a year ago to 1.8 trillion yuan ($285 billion). |