Thursday, May 10, 2012

Development of the New Rural and Urban Residents’ Pension Schemes

The 17th National Congress of the Communist Party of China (CPC) in 2007 set the goal of putting in place a social security scheme covering both urban and rural residents. In 2008 the CPC decided to establish a new rural pension scheme. In 2009, the State Council introduced a pilot scheme in 10% of the regions in China, which expanded to 60% in 2011, when a pilot scheme for urban residents was carried out alongside. The two schemes would realise full coverage of the population in China by 2012. With the intro duction of the New Rural and Urban Residents’ Pension Schemes, a social security system covering both rural and urban citizens has been basically put in place in China. The two schemes are of great significance to guarantee and improve people’s livlihood, promote economic growth in urban and rural areas, and maintain social harmony and stability.
The China National Philatelic Corporation specially issued a commemorative cover and a lovely stamp to go with it, to mark the development of the new rural and urban residenrs’ pension schemes in China. My friend Françoise sent me this nice FDC.

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