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Chinese
government considers that, for this to be achieved, by 1997 or 1998 China's exports will have to reach US$100 billion and outstrip its imports by around US$5-15 billion,
and China's foreign exchange reserves will have to be maintained at a minimum of around US$40-50 billion and
preferably more.
56.
(iv) The insurance system
In early 1993, the State Council issued and started to implement the "Provisional Regulations on
Unemployment Insurance. for Workers in State-owned
Enterprises" in a move to strengthen the management of
unemployment insurance. gradually expand the coverage of unemployment insurance to all types of enterprises, including both state-owned and
non-state-owned. Moreover, the Ministry of Labour has indicated that an old-age insurance fund will be set up for permanent and contract staff in state-owned enterprises. An insurance scheme covering industrial injuries will also
be established.
The ultimate objective is to integrate
old-age insurance, industrial injury insurance and unemployment insurance into a comprehensive social security
system, with contributions from both workers and
enterprises and covering employees in all types of
The longer term intention is to
enterprises.
57.
residents,
In
order to promote life insurance among Chinese the People's Insurance Company of China will set a specialised life insurance enterprise in late 1993. addition to AIA, which has started operation in Shanghai late 1992, more foreign insurance companies will also be allowed to operate in China.
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