China's social security fund council to be administered by finance ministry

2018-03-13 06:02:33 GMT2018-03-13 14:02:33(Beijing Time) Xinhua English

BEIJING, March 13 (Xinhua) -- China's national social securityfund investment operator will no longer be administered by theState Council, but by the finance ministry, according to a plansubmitted to the national legislature on Tuesday.

The move aims to ensure the security and steady valuepreservation and appreciation of the country's social securityfund, according to the plan on institutional restructuring of theState Council, or the cabinet, which was tabled to the firstsession of the 13th National People's Congress fordeliberation.

The National Council for Social Security Fund will be a fundinvestment operating agency without definite governmentadministrative ranking, the plan said. Enditem