Announcing this, Yin Weimin, minister of human resources and social security, told a national conference that China's
social security funds that insure pension, medicare, unemployment,
work-related injury compensation and maternity pay collected 2.35
trillion yuan (USD 372 billion) in revenues this year, up 24.7 per cent
year-on-year.
Meanwhile,
spending by social security funds will rise 21.5 per cent from a year
ago to 1.8 trillion yuan this year, official Xinhua news agency
reported.
Across
the country, 24 provinces, autonomous regions and municipalities raised
their minimum wage standards by an average of 22 per cent year-on-year
in 2011, the minister said.
Labour
law enforcement helped 1.29 million migrant workers recover 2.94
billion yuan in defaulted salaries and compensation this year, he said.
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