The number of people in China covered by unemployment insurance, under China's social insurance system, totalled 245m by the end of September, sources with the Ministry of Human Resources and Social Security say.
The ministry will promote the coverage of unemployment insurance and optimise the linkage between employment, unemployment insurance, and subsistence allowances, reported Xinhua News Agency.
Data from the ministry show that in 2023, 7.3m unemployed people nationwide received unemployment insurance benefits totalling CNY72.9bn ($10.4bn), up by CNY13.6bn from the previous year.
The monthly per capita unemployment insurance amount was at CNY1,814 last year, more than double that of 2012, the data shows.
In 2023, the income of the national unemployment insurance fund reached CNY180.7bn, while the expenditure totalled CNY148.5bn. At the end of last year, the cumulative balance of the fund stood at CNY321.3bn.
China’s social security system is made up of five different kinds of insurance and a housing fund. The types of insurance are unemployment insurance, pension insurance, medical insurance, workplace injury insurance, and maternity insurance.