Yicai:

A series of social security policies were introduced in recent years, which greatly relieved the burden on businesses. This year, a range of policies related to social insurance was rolled out to ease enterprises' difficulties. How have their effects been? Thank you.

Qi Tao:

In recent years, the CPC Central Committee lowered seven times social insurance premium rates so that the general premium rate of five social insurances declined from 41% to 33.95%, and enterprises' social insurance contributions from 30% to 23.45%. These measures substantially reduced enterprises' social insurance fees. In the face of the pandemic in 2020, the CPC Central Committee released policies that provided an unprecedented temporary reduction or remitting to enterprises' social insurance costs and cut their contribution by 1.54 trillion yuan in the year. All of these helped enterprises to stay afloat during difficult times. 

This year, according to the plans of the CPC Central Committee, a package of favorable policies related to social insurance was implemented in a bid to stabilize the economy, ensure employment, and improve people's livelihoods. First, we prolonged the policies to reduce premiums of unemployment and work-related injury insurance, which saved enterprises' costs by 100 billion yuan in the first seven months. Second, we allowed deferred payments of old-age, unemployment, and work-related injury insurance on a time-limited basis. The policy covered enterprises from five industries in severe difficulties, including catering, retail, tourism, and transportation, and 17 industries in difficulties, including equipment manufacturing and automobile manufacturing, and all micro, small and medium enterprises (MSMEs) and the self-employed facing temporary troubles in areas hit hard by the pandemic. From the end of April to July, a total of 49.4 billion yuan in social insurance premiums were deferred, benefiting more than 600,000 businesses. Third, we increased the proportion of unemployment insurance premium refunds for MSMEs that stabilized employment from 60% to 90% and large enterprises from 30% to 50%. In the first seven months, a total of 39.7 billion yuan was refunded to 6.67 million enterprises. Fourth, we initiated unemployment insurance subsidies to support enterprises in middle- and high-risk areas and in five industries facing severe difficulties to stabilize and expand employment. During the first three months of the policy, 2.91 million enterprises received a total subsidy of 13.5 billion yuan. 

Next, we will seriously implement various social security relief policies, closely follow the implementation of policies for the deferred payment of social insurance premiums in various places, and promptly study and solve new situations and problems encountered during the implementation process. We will further execute the quick action to implement the policies, realize the "apply and you can enjoy" policy for delayed payment of social insurance premiums, actively promote "need not to apply and you can enjoy" policy for refunding unemployment insurance premiums for enterprises that make no cuts or minimal cuts to staff numbers and for job retention subsidies, and accelerate releasing policy dividends for reducing burdens and stabilizing jobs. Thank you.