Government and Policy

China to raise retired enterprise-employees pensions

(Xinhua)
Updated: 2010-12-22 19:57

BEIJING - The State Council, China's Cabinet, announced Wednesday it will raise the pensions of retired enterprise-employees from 2011 and increase subsidies for poor students, amid increased inflation concerns.

The State Council decided at an executive meeting presided over by Premier Wen Jiabao to raise the retired enterprise-employees pension about 10 percent from 2010 levels, or about 140 yuan ($21) per person per month, from January 1, 2011.

It is the sixth consecutive year China has raised the retired enterprise-employees pension.

The State Council also decided to increase state allowances for 4.3 million needy college students from the current 2,000 yuan (about $300) per student per year to 3,000 yuan ($451) per student per year.

It also decided to extend tuition waivers to 4.4 million vocational school students.

It also decided to give 1,500 yuan ($225) per year in subsidies to each of China's 4.82 million needy high school students.