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BEIJING, March 1 (Xinhua) -- The expenditure1 in China's central budget on social insurance and job security totaled 575.37 billion yuan (91.62 billion U.S. dollars) in 2012, the Ministry2 of Finance (MOF) announced Friday.
The central government also spent 204.82 billion yuan on medical treatment and public health initiatives, the ministry said in an online statement.
Some 45.4 billion yuan was allocated3 to support local employment subsidies4 and carry out a job-creation project for high-tech5 talents, according to the statement.
Expenditures6 on basic endowment insurance for state enterprise retirees, a major component7 of China's social insurance funds, hit 217 billion yuan in 2012, it said.
Another 65.4 billion yuan of the central budget went toward subsidies for other rural and urban residents covered under the country's social old-age insurance system, it said.
At least 70 percent of medical expenses were reimbursed8 for hospitalized residents that subscribed9 to various types of medical insurance, the ministry added.
China's social insurance funds are composed of five parts: basic endowment insurance for the elderly; basic medical insurance; unemployment insurance; work-related injury insurance; and maternity10 insurance.
Official data show that China's pension system covered 484 million people by the end of 2012.
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1 expenditure | |
n.(时间、劳力、金钱等)支出;使用,消耗 | |
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2 ministry | |
n.(政府的)部;牧师 | |
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3 allocated | |
adj. 分配的 动词allocate的过去式和过去分词 | |
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4 subsidies | |
n.补贴,津贴,补助金( subsidy的名词复数 ) | |
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5 high-tech | |
adj.高科技的 | |
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6 expenditures | |
n.花费( expenditure的名词复数 );使用;(尤指金钱的)支出额;(精力、时间、材料等的)耗费 | |
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7 component | |
n.组成部分,成分,元件;adj.组成的,合成的 | |
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8 reimbursed | |
v.偿还,付还( reimburse的过去式和过去分词 ) | |
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9 subscribed | |
v.捐助( subscribe的过去式和过去分词 );签署,题词;订阅;同意 | |
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10 maternity | |
n.母性,母道,妇产科病房;adj.孕妇的,母性的 | |
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