Horizons will continue to update important business news and information related to the coronavirus epidemic.

5 Months Reduction on Employee Medical Insurance Premium

The China Ministry of Finance, National Medical Insurance Bureau and Tax Bureau jointly announced the Guiding Opinions on the Periodic Reduction of Basic Employee Medical Insurance Premium (“Guiding Opinions”) measure on 21 February 2020. Guiding Opinions reduces payment of employee medical insurance by 50%, while the reduction period, from February 2020, shall not exceed more than five months.

Additional provisions promulgated for […]

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Further nationwide measures to support businesses in China have been announced

At the 18 February State Council of the People’s Republic of China executive meeting chaired by Premier Li Keqiang, the council announced policies that included a reduction in social insurance premiums and a deferment in payment of housing provident funds. The decision was made in a further effort to support both local and foreign enterprises nationwide and stabilise employment amidst the coronavirus […]

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In China’s battle against the coronavirus epidemic, the nation is striving to contain the spread of the virus. Many provincial and municipal governments across China have issued first-level emergency responses to enable emergency measures in combating the epidemic. For enterprises across China, such measures are directly impacting on businesses, resulting in economic consequences.

To address the economic impact of the coronavirus, the
Communist Party Central Committee and the State Council, under the leadership
of President […]