New Updates on China Social Insurance Policies
China Insight - Employment & Pensions
Chinese employers are reported to bear one of the highest percentages of social insurance obligations in the world. According to statistics, in most parts of China employers have to pay social insurance premiums equaling to 28.25% of the employees’ salaries. The contribution rates are even higher in big cities such as Beijing and Shanghai. In the 13th Five-year Plan of National Economic and Social Development of the Chinese Government which was just issued in May 2016 (“the 13th Five-year Plan”), the Chinese Government plans to, in the next five years, adequately reduce social insurance contribution rates. Relevant changes are already implemented or will be implemented in the near future.
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