Business Resources

China China Statutory Update – Adjustments for social insurance& housing fund base/rate effective 1st July, 2020

Dear Customers.

Please find below notice for the statutory adjustments in July in China for your reference. The policy of “Medium-sized, small and micro enterprises will be auto exempted from the three types of social insurance company contributions (pension insurance, unemployment insurance and work-related injuries insurance)” and will be extended until December 2020.

Shanghai

HF – The proportion of individual and companies’ contribution rate remain as 7% for each of them. After the adjustment, maximum contribution fee will be RMB 3922 including individual and companies’ parts (exclude the supplementary housing fund contribution). The proportion of individual and companies contribution rate of the supplementary housing fund remain as 1%-5% for each of them (only adopt direct integer), and the actual rate will be chosen by the company according to its own situation.

Reference website: Link

File name: 沪公积金管委会〔2020〕3号

SI – The proportion of company contribution rate of medical insurance will be reduced by 0.5%, contributed as 10% for each of them (including the original proportion of maternity insurance rate of 1%) starting from July 2020 to December 2020.

Please refer to the social insurance rate table. Minimum base amount is 4927. Maximum base amount is 28017.

Reference website: Link

Guangzhou

HF – The proportion of individual and companies’ contribution rate can be chosen from 5% to 12% (only adopt direct integer), and EE rate should not be less than ER rate.

Reference website: Link

SI – Please refer to the social insurance detail table.

Reference website: Link

Beijing

HF – The proportion of individual and companies’ contribution rate remain as 12% per each. Maximum contribution fee will be RMB 6668 including individual and companies’ parts.

Reference website: Link

SI – Please refer to below social insurance detail table.

Reference website: Link , Link2