Other Briefings
Shenzhen Adopts New Housing Fund Rates
SHENZHEN, Nov. 15 –Shenzhen has adopted new contribution rates for the city’s housing fund, set to take effect on December 1, 2010. The new rates will be from 5 percent to 20 percent as decided by the employer. The fund will use the average wage of the employee from the previous year as the lower […]
China Adopts Social Insurance Law, Workers Given Right to Transfer Pension
Oct. 29 – China’s top legislature voted yesterday to allow workers in China the right to transfer their basic pension insurance accounts from one residence to another. The Social Insurance Law, which will take effect on July 1, 2011, aims to prevent the improper use of social security funds and also promises a new endowment […]
China’s Second Tier Cities? The Third and Fourth Tiers are Catching Up
Op-Ed Commentary: Chris Devonshire-Ellis Oct. 26 – The much lauded phrase “second tier city” has been around for much of the past decade as a descriptive factor, especially in China, when it came to dealing with business opportunities and investments outside the principal cities of Beijing, Shanghai, Guangzhou and Hong Kong. A decade on, and […]
Understanding China’s Social Security System
By Adam Livermore Sept. 14 – The social security system in China is based upon guidelines issued by the central government, although the specifics and administration of the system is managed at the local level. This is the only practical method in a country as diverse as China, as any rigid system defining specific contributions […]
New Issue of China Briefing: Employment Overheads in China’s Social Security System
Sept. 1 – In the September issue of China Briefing we look at China’s social security regime and the five social insurance funds that enterprises in China must contribute to: pension, medical insurance, unemployment insurance, maternity insurance, and occupational injury insurance. We also look at the housing fund, another mandatory fund that both employers and […]
Xinjiang and Tibet Raise Minimum Wages
Jul. 28 – Xinjiang and Tibet have raised their minimum monthly and hourly wages, according to regional authorities. The minimum monthly wages in Xinjiang now range from RMB640 to RMB960 across different regions – an increase of 24.6 percent on average. The adjusted minimum hourly wage ranges from RMB6 to RMB8.80. The adjusted minimum wages […]
Beijing Raises Minimum Wage
BEIJING, Jun. 22 – The Beijing municipal government has raised the monthly minimum wage in the city to RMB960, effective from July 1. The notice, issued June 4, raises the monthly minimum wage to RMB960, up from RMB800, and the hourly minimum wage to RMB5.5, up from RMB4.6. Furthermore, the notice stipulates that social security […]
Shenzhen Raises Minimum Wage
Jun. 10 – The Shenzhen municipal government has raised the monthly minimum wage in the city to RMB1,100 effective from July 1. The notice, which was issued June 8 at the government executive meeting, standardizes the monthly minimum wage level across the city. The minimum monthly wage in Luohu, Futian, Yantian and Hanshan district has […]
