The Dilemma And Development Of Suzhou Industrial Park Provident Fund System

After 20 years of development,Suzhou Industrial Park(SIP)has gone through the phases of large-scale development and high speed growth,and began to enter the phases of deep adjustment,steady growth and transition acceleration.SIP will face more open and more diverse challenges in the future.However,due to the dual constraints of its own resource bottlenecks and weak innovation-led,it becomes more difficult for SIP to continue to stay ahead of increasing,which puts forward higher requirements for the construction and implementation of SIP's overall institutional framework.Suzhou Industrial Park Provident Fund System,as an important outcome of Singapore's public administration experience,is an important part of the overall system framework.It's a regional social security system tailored to SIP and plays an important role in promoting the economic and social development of SIP.Over the years,China's traditional social insurance and housing provident fund system have come out of the exploration period of the reform,and got into a stable and sound development period.Because of the different social security system models,contradictions both inside and outside SIP become increasingly acute.On July 1,2011,SIP took that Social Insurance Law was introduced as an opportunity to timely implement the institutional changes of Suzhou Industrial Park Provident Fund System with the goal of being ultimately merged with the social insurance and housing provident fund system in China.This paper mainly introduces the various social security institutional models,including the characteristics and differences,discusses the causes and processes of the changes of Suzhou Industrial Park Provident Fund System and the current situation,risks and problems of the operation of the system,and provides some ideas and inspiration about how to use the experience of Suzhou Industrial Park Provident Fund System to promote the reform of China's social insurance and housing provident fund system.First of all,this paper analyzes the institutional models and management system of the pension insurance system,housing provident fund system,and Singapore Central Provident Fund System.Through a comprehensive introduction of Suzhou Industrial Park Provident Fund System's background,the main features and contents and management system,it helps to understand the differences between Suzhou Industrial Park Provident Fund System and other the social security systems.Secondly,this paper uses the theory of institutional change in the new institutional economics to detailedly analyze the causes and processes of the changes of Suzhou Industrial Park Provident Fund System,and it concludes that the second change of Suzhou Industrial Park Provident Fund System is the demand-based and government-led progressive change.This paper also analyzes the present situation and dilemma of the system after the change of Suzhou Industrial Park Provident Fund System.Thirdly,from three aspects of the policy,the administrative management and the business management,this paper analyzes the reasons for the deficiency,for instance,lack of effective execution,the low efficiency,mechanism defects and the difficulty in information exchange.Finally,combined with the practical experience of Suzhou Industrial Park Provident Fund System,this paper puts forward some ideas and inspiration from both the macro-level and micro-level to promote not only Suzhou Industrial Park Provident Fund System development but also China's social insurance and housing provident fund system reform.