China reduces enterprise payment for employees' insurance

BEIJING - China on Wednesday lowered the payment by enterprises for their employees' insurance.

The share borne by employers for urban workers' basic aged-care insurance was lowered to 16 percent across the country, according to a plan released earlier by the State Council.

A reduced enterprise contribution to employee's unemployment insurance and another one to employee's work injury compensation insurance were maintained and extended to April 30, 2020.