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China's top SOEs regulator on Friday announced it would establish a special working group to encourage state firms to map out future development strategies for the area.

China's private sector savings rate accounted for 92.7 percent of national savings in 2017, with 45.4 percent of corporate savings and 47.3 percent of household savings. The increase of population dependency ratio and the change in structural factors are the main determinants of the change in residents' savings.

Chinese 100 yuan banknotes are seen in a counting machine while a clerk counts them at a branch of a commercial bank in Beijing, China, in this March 30, 2016 file picture. [Photo/Agencies]

Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, shakes hands with military veterans and ex-officers at a festive art performance held for them in Beijing, capital of China, Jan 13, 2017. Xi on Friday extended Spring Festival greetings to military veterans. [Photo/Xinhua]

China's social insurance system is the largest in the world. About 900 million people are included in the endowment insurance system, and more than 1.3 billion are covered by medical insurance, according to a statement from the center provided exclusively to China Daily.