Social insurance fund is a fund raised by the state for holding social insurance undertakings, which is used to pay insurance benefits and allowances enjoyed by workers due to temporary or permanent loss of working ability or job opportunities. Social insurance funds include basic endowment insurance fund, basic medical insurance fund, industrial injury insurance fund, unemployment insurance fund and maternity insurance fund.

Legal objectivity:

Article 64 of the Social Insurance Law of People's Republic of China (PRC) includes basic old-age insurance fund, basic medical insurance fund, industrial injury insurance fund, unemployment insurance fund and maternity insurance fund. All social insurance funds shall be accounted for according to the types of social insurance, and a unified national accounting system shall be implemented. In addition to the basic medical insurance fund and maternity insurance fund combined accounting, other social insurance funds are accounted for separately according to social insurance types. Social insurance funds implement a unified accounting system throughout the country.