CCTV:

At present, the public has many new expectations regarding social security. Could you please explain how reforms in the social security sector will be further deepened? Thank you.

Li Zhong:

Thank you for your question. Let me address this. Social security serves as both a safety net for people's lives and a stabilizer for society. It's a major issue for national governance and stability. Since the 18th CPC National Congress, the construction of China's social security system has accelerated, achieving historic achievements and undergoing historic changes. First, the system has become sounder. We've achieved unified national management of basic old-age insurance funds for enterprise employees and implemented a unified old-age insurance system for urban and rural residents. We've essentially established a multi-tiered social security system. Second, coverage has continued to expand. Enrollment in basic old-age, unemployment, and work-related injury insurance has reached 1.074 billion, 245 million, and 301 million people, respectively. Third, we have steadily improved the level of security and gradually established and refined benefit determination and adjustment mechanisms. Fourth, we have continuously strengthened our security capacity, achieving steady growth in fund revenue, expenditure, and balance. Fifth, we have optimized service quality. We have largely established a five-tier urban-rural management and service network, issued social security cards to 98% of the population, and consistently improved public satisfaction with our services.

Through unremitting efforts, China has accomplished in a few decades what took many countries over a century. We've built the world's largest social security system, which is comprehensive and has distinct Chinese characteristics, laying a solid foundation for improving people's quality of life.

The third plenary session of the 20th CPC Central Committee made important arrangements for improving the social security system. We will continue to deepen reforms, adhering to principles of systematic integration, coordination, and efficiency. Our goal is to promote high-quality, sustainable development of the social security system, providing more comprehensive, reliable, and equitable social security for the public. We will focus on the following five key areas:

First, we will enhance sustainability and strengthen the institutional foundation for stable operation. We will further improve the unified national management of basic old-age insurance funds for enterprise employees and study policy measures to expand the annuity system coverage. Additionally, we will roll out the private pension system nationwide, increase the scale of market-oriented investment and operation of funds, and improve the system for maintaining and increasing the value of social security funds.

Second, we will enhance accessibility and continuously expand social insurance coverage. We will improve social insurance systems for flexible workers, migrant workers, and those in new forms of employment. We'll expand pilot projects on occupational injury insurance for workers in new employment forms, implement policies to remove household registration restrictions for flexible workers' insurance participation, and bring more people under security coverage.

Second, we will enhance security and improve the fund security supervision system. We will further ensure that the principal responsibilities for fund safety risk prevention and control and supervision duties are assumed. We will optimize the prevention and control system, which covers four aspects: policies, services, information and supervision. We will enhance the whole-chain supervision on fund operation, improve abilities in risk prevention and control, and continue to safeguard people's money for elderly care and emergency use.

Fourth, we will increase convenience and continue to optimize the management and service system. We will improve the nationally unified public platform for social insurance services and the one-stop government service working mechanism. We will comprehensively enhance service channels and promote the handling of resident services through a single social security card. 

Fifth, we will strengthen standards and enhance law-based governance. We will improve and revise relevant laws and regulations on social security at the proper time, ensuring the system's unified standards and mandatory limits. We will ensure the implementation of existing laws and regulations, and improve supporting policies and detailed rules for implementation. Thank you.