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What does it mean to enrich the social security fund with state-owned capital?
Social security fund refers to the funds raised by the state for holding social insurance undertakings, which are used to pay the insurance benefits and allowances enjoyed by workers due to temporary or permanent loss of labor ability or labor opportunities. Social insurance funds include basic endowment insurance fund, basic medical insurance fund, industrial injury insurance fund, unemployment insurance fund and maternity insurance fund.
Legal objectivity:
People's Republic of China (PRC) social insurance law
Article 64
Social insurance funds include basic endowment insurance fund, basic medical insurance fund, industrial injury insurance fund, unemployment insurance fund and maternity insurance fund. All social insurance funds shall be accounted for according to the types of social insurance, and a unified national accounting system shall be implemented. In addition to the basic medical insurance fund and maternity insurance fund combined accounting, other social insurance funds are accounted for separately according to social insurance types. Social insurance funds implement a unified accounting system throughout the country.
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