April 30 2019

State Council Releases Comprehensive Plan for Reducing Social Security Contribution Rates

The General Office of the State Council released on April 4, 2019 the Comprehensive Plan for Reducing Social Security Contribution Rates. Starting from May 1, 2019, provinces can reduce employer's contribution rate of basic endowment insurance for urban workers to 16% if the rate is higher at present.

The plan also said China will cut the premium rates for unemployment insurance and work-related injury insurance. Starting from May 1, 2019, provinces can continue to reduce premium for unemployment insurance until April 30, 2020 if the premium rate is 1%; they can also cut the premium for work-related injury insurance until April 30, 2020.