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News from BenCham: China's New Social Insurance Law includes Foreigners
BenCham would like to inform you about the implementation of China’s New Social Insurance Law which has begun on July 1st. One of the key changes in this law (Article 97) will be the inclusion of foreigners in the Chinese Social Insurance system. All foreign employees with work permits gain access to five forms of insurance under the new law: endowment insurance, basic medical insurance, unemployment insurance and maternity insurance. This implies that foreign employers and employees have to contribute in these five schemes. This has raised concern among European businesses on the additional costs of hiring or posting foreign workers. You can find more detailed information under http://www.bencham.org/web/Social_Insurance_Law_BenCham_White_Paper.aspx .