What the social insurance reductions mean for labor management

June 21, 2016 | BY

Katherine Jo &clp articles

The ministry of human resources has cut companies' social insurance payment requirements, bringing both short- and long-term benefits to employers, employees and the overall economy

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The Ministry of Human Resources and Social Security (MOHRSS), together with the Ministry of Finance, issued theCircular on Reducing Social Insurance Premium Rates in Stages (Circular) on April 14, 2016, in accordance with thePRC Social Insurance Law