China's Coal Mines Urged to Pay Pension Insurance for Retirees
����Chinese vice-premier Wu Bangguo has urged the country's coal mines to pay pension insurance for their retirees and the arrears in their wages.
����Speaking in Beijing on September 25 at a national conference on pension insurance for coal mines, the vice-premier said the matter is of utmost importance to social stability.
����He announced that the pension arrears of major state-owned coal mines would be paid from the state coffer after going through necessary auditing by authorities.
����Wu urged banks to help coal mines recover their debts, which have been partly responsible for the mines' cash shortages.
����The vice-premier also called on state-owned coal mines to step up reform with the aim of establishing a modern enterprise system, including the streamlining of redundant staff to increase efficiency and profits. (Xinhua)
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