Central budget expenditures on China's social insurance and job security totaled 575.37 billion yuan ($92.46 billion) in 2012, the Ministry of Finance said on March 6.

The Central Government also spent 204.82 billion yuan ($32.91 billion) on medical treatment and public health initiatives, according to an online statement.

Some 45.4 billion yuan ($7.3 billion) was allocated to local employment subsidies and for carrying out a job-creation program for hi-tech talent.

Expenditures on basic endowment insurance for state-owned enterprise retirees, a major component of China's social insurance funds, hit 217 billion yuan ($34.87 billion) last year, the ministry said.

Another 65.4 billion yuan ($10.51 billion) of the central budget went toward subsidies for other rural and urban residents covered under the country's social old-age insurance system.

At least 70 percent of medical expenses were reimbursed for hospitalized residents that subscribed to various types of medical insurance, the ministry added.