China improves supervision of social insurance funds

BEIJING -- China's Ministry of Human Resources and Social Security has rolled out measures for administrative supervision of social insurance funds and to crack down on insurance frauds.

The measures will take effect on March 18, the ministry said Tuesday, adding that it will guide local governments to implement these measures, strengthen supervision and crack down on illegal acts such as frauds, hedging, or misappropriation of social security funds.

The ministry will overhaul social security funds involving all types of insurance and probe wrongdoings to ensure the safety of the funds.