Thursday, July 11, 2019

State Council meeting stresses implementation of social insurance contribution cut

China should take measures to ensure the social insurance contributions of enterprises are reduced, according to a State Council executive meeting Wednesday chaired by Premier Li Keqiang. China has announced measures to cut the social insurance contribution of businesses as part of its efforts to reduce the burden of companies and boost market vitality.

In the first half of this year, employers have seen more than 128 billion yuan (18.59 billion U.S. dollars) less paid in basic aged-care insurance contributions, unemployment insurance and work injury compensation insurance premiums, according to the meeting. Read More