The Ministry of Human Resources and Social Security held a press conference on the 24th to brief on the main progress of human resources and social security work in 2023 and the next steps.

The Ministry of Human Resources and Social Security introduced that, as of the end of 2023, the number of people covered by basic old-age insurance, unemployment insurance, and work-related injury insurance nationwide stood at 1.066 billion, 244 million, and 302 million respectively, an increase of 13.36 million, 5.66 million, and 10.54 million year on year. For the full year, the revenue of the three social insurance funds totaled 7.92 trillion yuan, expenditure totaled 7.09 trillion yuan, and the cumulative balance at the end of the year reached 8.24 trillion yuan, with the funds operating steadily overall.

The Ministry of Human Resources and Social Security stated that fund supervision and investment operations were continuously strengthened in 2023. Measures such as the Administrative Measures for the Supervision and Reporting of Social Insurance Funds and the Interim Measures for Supervisory Talks on Social Insurance Funds were issued. Actions to consolidate and upgrade social insurance fund management were deployed. On-site inspections and off-site supervision of annuity fund management institutions were carried out on a regular basis to promote compliant operations. Efforts were made to advance the entrusted investment of basic old-age insurance funds, which, as of the end of 2023, had reached an investment and operation scale of 1.86 trillion yuan.

The Ministry of Human Resources and Social Security stated that the next step will be to actively advance the nationwide pooling of old-age insurance to ensure that pensions are paid on time and in full. Solid efforts will be made to advance the action to consolidate and upgrade social insurance fund management and to promote the expansion of the entrusted investment scale of basic old-age insurance funds.