China's central government has allocated 66.16 billion yuan (US$8.3 billion) for improving the social security system in northeast China during the past three years, said Vice Minister of Finance Li Yong.
Speaking Tuesday at an international symposium on the revitalization of northeast China's three provinces of Liaoning, Jilin and Heilongjiang, the official said the Ministry of Finance has, since October 2003, increased its input into the social security system reform in this area.
Li said the allocation included 36.93 billion yuan (US$4.6 billion) subsidies for pensions of workers in state-owned enterprises and 11.94 billion yuan (US$1.5 billion) as assistance to laid-off workers.
The official said the Ministry of Finance plans to increase its investment in the social security system in northeast China in the next five years.
(Xinhua News Agency January 18, 2006)
