BEIJING — China’s social security fund reported steady expansion in terms of revenue and expenditure in 2021, data from the Ministry of Human Resources and Social Security showed.
The revenue of the fund topped 6.82 trillion yuan ($1.02 trillion) last year, soaring 34.6 percent from 2020, according to a statistical bulletin released by the ministry.
About 6.27 trillion yuan of the fund was spent in the same period, up 8.9 percent from the previous year, the bulletin said.
Contributions to the social security fund come from basic old-age insurance, unemployment insurance and work-related injury insurance.
By the end of 2021, about 1.03 billion people had participated in the basic old-age insurance scheme, and the accumulative balance of the fund neared 6.4 trillion yuan.