Chapter 4: Urban and Rural Residents' Social Security

The Chinese economy has experienced high levels of fluctuation as a result of the global financial crisis. It is crucial to accelerate the establishment of a social security system covering urban and rural areas and to perfect various systems for social security in such a way that the social security system can play the role of a “shock absorber” in the economy and act as a “stabilizer” of society by safeguarding basic living standards and consumption of residents and maintaining social harmony and stability.