Evolution of China’s Social Insurance System

Around the time of the founding of the PRC, the Party and the state began to establish a social security system in order to provide stability and restore the national economy devastated by war. Despite all the ups and downs throughout its evolution, including several changes in its model over those 70 years, China’s pension system has played an increasingly important role in protecting people's lives. It now covers more than 800 million people, with more than 200 million people receiving pensions each year. The number of the insured in the health insurance system has long exceeded one billion.