In an overall program to realize the urban and rural overall planning social insurance project, Guangzhou is implementing an innovative government-funded model. The Government will invest a total of RMB 6.5 billion during its tenure to boost the realization of an all-citizens social insurance program. The program was announced by Vice Mayor Chen Guo at the Working Meeting of the Guangdong Labor and Social Insurance committee held January 15.

The Government will invest RMB 6.5 billion to boost the all-citizens social insurance during its tenure, the program showing particular consideration for older groups with poor economic capability. The older the citizen, the more support will be provided by the government. It is estimated that the government will identify some 103, 900 farmers whose lands had been requisitioned, providing a total RMB 917 million this year and next. The proportion between individual payments and amount the government will finance in social insurance reaches to 1:1, i.e., if the individual pays RMB 200, the government will finance the same amount. For endowment insurance of seniors, Guangzhou will fund RMB 1.180 billion for 127,000 senior citizens by 2011.