On 25 November 2022, the Chinese government launched the pilot phase of a voluntary tax-favored private pension scheme under the third pillar of the country’s pension system. This new scheme aims to assist China in overcoming gaps in its current pension system as the country struggles with one of the most rapidly aging populations in the world, according to the World Health Organization.
Following the promulgation of the three-child policy on 31 May 2021, multiple local Chinese governments amended their family-related leave policies to address the decreased fertility rate and aging of the population. Family-related leave regulations have been amended in multiple provinces […]
On 30 June 2020, the Beijing Social Insurance Fund Management Center issued a notice prohibiting third-party human resources (HR) agencies from filing social insurance payments for Beijing-based staff of companies not registered in Beijing. The notice entered into effect on […]
On 29 November 2019, the Ministry of Human Resources and Social Security promulgated provisional measures requiring employers to contribute to mainland China social insurance for Taiwan, Hong Kong and Macau (THKM) residents living and/or working in mainland China. The new […]
In March 2019, the government of China released social insurance policies that reduced the employers’ contribution to basic pension insurance from 20% of an employee’s salary down to 16%. This change takes effect 1 May 2019. China has one of […]
Starting 1 January 2019, social security contributions will be levied by the tax authorities rather than social insurance administrative authorities. This change is part of the government’s ongoing efforts to increase compliance with social insurance contribution requirements while standardizing, and in […]
On 3 August 2018, the Chinese State Council published a circular abolishing 11 administrative licenses including the employment permit requirements for residents of Taiwan, Hong Kong and Macau (THKM). To facilitate employment processes, a work permit will no longer be […]
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