Xinhua —China’s overall income of the pension funds is greater than theexpenditure, and the operation of the fund is in good condition, the financeminister said on March 7.

“Nationwide,China can ensure that the pension is paid on time and in full,” Ministerof Finance Liu Kun told a news conference on the sidelines of the annuallegislative session.

Last year, theincome of the corporate pension funds was 3.6 trillionyuan($536 billion), while total expenditure stood at 3.2 trillionyuan, leaving a balance of 400 billionyuan,Liu said.

The cumulativebalance of pension funds stood at 4.6 trillionyuanat the end of last year, he added.

In 2018, Chinaestablished a system allowing the central authorities to adjust corporatepension funds at the national level, Liu said, adding that 22 provinces hadbenefited from the arrangement last year.

“Judgingfrom current financial arrangements, each provincial region can achieve thebalance of pension funds this year,” he said.

Source:https://appen.media.gov.cn/engovdata/goven/201903/07/455014/article.html