In August 2000, the Central Committee of the Communist Party of China (CPC) and the State Council decided to establish the National Social Security Fund and also the National Council for Social Security Fund, which manages and operates the assets of the former.

The Standing Committee of the 11th National People’s Congress passed the Social Insurance Law, which stipulates that the authorities should regularly publish details about the Fund’s income, expenditure, management and investment. It also requires the financial department, social security department and auditing department under the State Council to supervise the income, expenditure, management and investment.