The paper reviews the experiment on China’s social insurance system since the reform and opening-up policy. Also，the paper analyzes the current status and operation of the social insurance system in 2010. And the author points out the problems China is facing in terms of the establishment of its social safety net. In 2010，China promulgated its first Social Insurance Law. This law makes progress on issues such as the major social insurance categories，basic social security regulatory mode，and the policy orientation of expanding insurance coverage to include both urban and rural residents. Meanwhile，the Social Insurance Law further articulates the responsibility of the government to provide social safety net，and takes several innovative steps and makes breakthrough on the current social insurance system.