Stability key to social insurance premium policy

At a meeting of the State Council, China's Cabinet, on Tuesday, Premier Li Keqiang said it is vital to keep the social insurance premium policy stable, which to a large extent has eased people's worries at a time when a new regulation on premium collection has aroused public concern.

The general offices of the Communist Party of China Central Committee and the State Council recently issued a reform plan for tax collection, which stipulates that premiums for pension, medical, unemployment, occupational injury and maternity insurance will be uniformly levied by the taxation authorities from Jan 1, 2019.

In fact, the taxation authorities have been collecting social insurance premiums for more than one decade. Social insurance premiums in 19 provinces, municipalities and regions are collected by the local taxation authorities.