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What is social insurance?

Legal analysis:

Social security, that is, social insurance, is a social and economic system that provides income or compensation for people who have lost their ability to work, are temporarily unemployed or suffer losses due to health reasons. The main items of social insurance include endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance.

Legal basis:

Article 2 of the Social Insurance Law of People's Republic of China (PRC) stipulates that the state shall establish social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance, so as to guarantee citizens' right to receive material assistance from the state and society in case of old age, illness, industrial injury, unemployment and maternity.