Contribution cut to social security welcomed

Employer input will be lessened in move to reduce business burden

China's decision to lower the rates of social security contributions paid by employers, part of a broader effort to reduce corporate burden, has been lauded by entrepreneurs and experts for shoring up growth and employment.

The country will cut the share of enterprise contributions to urban workers' basic old-age insurance from 20 to 16 percent starting from May, according to the Government Work Report delivered by Premier Li Keqiang this year.