China reports pension funds surplus

%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20Chinese%20government%20said%20on%20Wednesday%20the%20country%27s%20pension%20funds%20account%20balance%20is%20in%20surplus%2C%20a%20sharp%20contrast%20to%20reports%20of%20a%20possible%20pension%20crisis%20that%20had%20led%20to%20public%20concern.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20total%20balance%20of%20funds%20for%20registered%20urban%20workers%2C%20unemployed%20urban%20residents%20and%20rural%20residents%20stood%20at%203.1%20trillion%20yuan%20%28%24506.6%20billion%29%20at%20the%20end%20of%202013%2C%20of%20which%2C%202.8%20trillion%20was%20the%20balance%20for%20registered%20workers%27%20pension%2C%20said%20Hu%20Xiaoyi%2C%20vice%20minister%20of%20human%20resources%20and%20social%20security.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EHu%20said%20the%20total%20income%20of%20pension%20insurance%20for%20registered%20urban%20workers%20reached%202.25%20trillion%20yuan%20last%20year%20while%20payments%20stood%20at%201.84%20trillion%2C%20creating%20a%20surplus%20of%20more%20than%20400%20billion%20yuan%20in%202013.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22The%20data%20showed%20that%20the%20account%20of%20China%27s%20pension%20funds%20is%20in%20surplus%2C%20and%20we%20don%27t%20face%20a%20pension%20shortfall%2C%22%20Hu%20told%20a%20press%20conference%20in%20Beijing.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20vice%20minister%20said%20that%20market%20forecasts%20last%20year%20claiming%20China%20would%20face%20a%20pension%20shortfall%20exceeding%20more%20than%2010%20trillion%20yuan%20by%202013%20were%20groundless.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EHowever%2C%20he%20said%20because%20the%20Chinese%20population%20is%20rapidly%20aging%2C%20authorities%20will%20have%20to%20make%20a%20balance%20forecast%20for%20pension%20funds%20in%20the%20future%2C%20and%20this%20requires%20more%20comprehensive%20analyses%20and%20precise%20calculations%20to%20help%20with%20policymaking.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20has%20the%20largest%20senior%20population%20in%20the%20world%2C%20with%20194%20million%20people%20at%20or%20above%20the%20age%20of%2060%20at%20the%20end%20of%202012%2C%20according%20to%20the%20China%20National%20Committee%20on%20Aging.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%28China%20Economic%20Net%29%3CBR%3E%3C/FONT%3E%3C/P%3E