September 30 2018

State Council Orders Local Governments to Keep Social Security Policies Stable

At a State Council executive meeting on September 18, 2018, Premier Li Keqiang stressed that the existing tax and fee reduction policies must be put in place as soon as possible, and policies on social security contributions should remain stable.

The meeting decided that inspections should be conducted to examine whether these favorable policies have been fully and timely implemented. Based on the principle that corporate burdens would not increase, relevant authorities should not make radical policy changes to social security payments and must not ask employers and employees to make up for contributions they were supposed to make in the previous years. In the meantime, authorities should work out plans to reduce social security contributions.

In order to expand opening up and maintain steady foreign trade growth, the meeting said new measures would be rolled out later this year, including cutting the time and cost of customs clearance, streamlining port services and improving the export tax rebate policy.