According to the Ministry, the new Social Security debit cards have functions of information records, information request and administration.
In addition, they can be used for operations with cash and for purchases.
As expected, the improvement of social security cards will make it convenient to use social security benefits.
Note that the new cards will be debit – that is, they have no credit opportunities.
At the end of 2010, there were 100 million social security cards in the Celestial Empire. By 2015 their quantity will grow to 800 million.
60% of the country’s citizens will become holders of these cards.
Recall that the system to pay benefits to care for the elderly people was established in 14 provinces, autonomous regions and municipalities under the central government of China.
According to the Ministry of Civil Affairs of China, this system will cover 8 million Chinese elders.
This is approximately 13.26% of the total population.
From 2011 to 2015, the program for system creation of social care for the elderly will be worked out in China in the next five years.
By the end of June 2011, the system of allowances for orphans was established in 27 provinces, autonomous regions and municipalities under the central government of China.
240 000 children get benefits under this system.
In 2010, the financial expenditures of the government of China to ensure and improve people’s living standards rose by 20.2% compared to 2009.
Last year, China’s state budget expenditures on education, health, social security, employment, affordable housing and culture made up 892.06 billion yuan ($ 137.24 billion).