Human Resources and Social Security Hu Xiaoyi, vice minister of the first 3 in “The Wealth of Nations North Economic Forum 2012″, said the end of 2011, five cities and towns accumulated balance of the social insurance fund is expected to reach 2.7 trillion yuan. Among them, the pension insurance fund accumulated surplus of 1.9 trillion yuan. Relevant departments have been working in security, income stability and investment fund management business model.

Hu Xiaoyi said the world economic turmoil that our country faces enormous challenges of social security. For increasing the value of the social insurance fund issue, “safety first” is the first principle. “Recently there are some on pension fund investment in the stock market should not discuss, I think that this is not the crux of the matter.” Social insurance fund management and operations focus on: first, to explore effective and systematic way, to this monumental amount of public funds, open and transparent manner placed under the supervision of the public; second, so that this social insurance fund long-term, stable income; third, all the real income of the Fund to improve the welfare of the people insured.

Hu Xiaoyi said the relevant departments in 2012 will continue to promote the full implementation of the new agricultural insurance and social pension insurance for urban residents, in order to achieve the basic old-age insurance system covers all urban and rural residents. Already in place with urban workers pension insurance in 2012 will be 6.6 billion people into the national pension insurance system, is expected to “second five” weekend, more than 800 million people into the national pension insurance system.

He said the world economic recovery is weak, demand, trade protectionism has become more serious and political trend, the impact of China’s long-term and profound, for example, China’s employment pressure, especially youth employment issues highlighted. By the impact of foreign trade situation, some coastal areas have emerged industrial slowdown, some companies underemployment phenomena that may gradually spread to the mainland.