ENTERPRISE HOUSING AND SOCIAL SECURITY REFORM PROJECT

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Closed

Enterprises in Chinese cities directly provide their workers with housing, pension, health care and other benefits. This system seriously impedes labor mobility and enterprise systems reform, and distorts housing and services delivery. The Enterprise Housing and Social Security Reform Project will help the four municipalities implement a strategy to develop a market-based housing system and a robust social safety net, freeing enterprises of direct welfare responsibilities, and thereby helping reform the enterprise system. To rationalize the housing system, participating enterprises will divest themselves of their housing stock and further obligations to provide and manage their worker housing, and instead provide cash wage supplements enabling the workers to rent or buy housing at commercial prices. The enterprise housing stock will be used as equity capital to create housing management companies which will rent and sell housing on a commercial basis. To strengthen social security, the project will help project municipalities accelerate their programs to widen pension, unemployment and health insurance pools and improve contribution and benefit formulae. The project will support technical assistance and training required for developing necessary policies and management institutions.

FY17 - Financial Sector,FY17 - Public Administration

World Bank Group

Project

Commercial, Government