Ministry of Finance, State Administration of Work Safety and People's Bank of China, Tentative Measures for the Administration of Risk Reserves for Enterprise Work Safety

Issued: July 26 2006
Effective: August 1 2006
Interpreting authorities: Ministry of Finance, State Administration of Work Safety and People's Bank of China
Applicability: The term "enterprises" refers to enterprises engaging in production and business activities in industries or sectors such as mining (excluding coal mining), transport, construction, and the production of dangerous chemicals, fireworks and fire crackers. The term "risk reserve for work safety" (Risk Reserve) refers to dedicated funds created by an enterprise that has deposited its funds in a dedicated account in the name of its legal person or partners for the purposes of handling, providing relief for and solving problems after a work-related accident of the enterprise (Article 2).
Coal mining enterprises shall refer to relevant provisions of the Tentative Measures for the Administration of Risk Reserves for Work Safety of Coal Mining Enterprises (Article 20).

Main contents: The amounts of Risk Reserves deposited by small, medium, large, and extra-large enterprises shall be not less than Rmb300,000, Rmb1 million, Rmb1.5 million and Rmb2 million respectively. Risk Reserves deposited shall, in principle, be not more than Rmb5 million (Article 3).
Related legislation: State Council, Decision on Further Strengthening Work Safety, 2004 and Tentative Measures for the Administration of Risk Reserves for Work Safety of Coal Mining Enterprises, 2005