China's social security fund council to be administered by finance ministry

BEIJING, March 13 (Xinhua) -- China's national social security fund investment operator will no longer be administered by the State Council, but by the finance ministry, according to a plan submitted to the national legislature on Tuesday.

The move aims to ensure the security and steady value preservation and appreciation of the country's social security fund, according to the plan on institutional restructuring of the State Council, or the cabinet, which was tabled to the first session of the 13th National People's Congress for deliberation.

The National Council for Social Security Fund will be a fund investment operating agency without definite government administrative ranking, the plan said.