Advocacy Letter on New Social Insurance Law

2023-10-09 | All chapters

In an era of evolving business landscapes, the European Chamber stands as a steadfast partner in the country's economic journey, spanning over two decades with support from the Chinese government.

Amidst the transformative 14th 5-year plan on Human Resources and Social Security, the Chamber recognizes the crucial upgrades in China's social security regime, advocating for policies that balance compliance without escalating operational costs or impeding employee benefits during the transition.

With such a goal in mind, the European Chamber urges for a more inclusive and prudent approach, suggesting practical measures such as allowing remote employees to access social insurance in their residence cities and offering a grace period for regulatory adjustments.

This plea for a collaborative and forward-thinking approach is extended to the Foreign Investment Special Group of the Ministry of Commerce and the Department of Pension Security of the Ministry of Human Resources and Social Security, inviting dialogue and proactive measures to address these pressing concerns. For further discussion and collaboration, the Chamber eagerly anticipates engagement with key stakeholders to navigate these complexities and pave the way for a more harmonious business landscape.