China Statutory and Private Employee Benefits - Insights into Statutory Employee Benefits such as Retirement Benefits, Long-term and Short-term Sickness Benefits, Medical Benefits as well as Other State and Private Benefits, 2023 Update

The report provides in-depth industry analysis, information, and insights into employee benefits in China, including an overview of the state and compulsory benefits in China, detailed information about private benefits in China, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in China.

China has one of the most comprehensive and well-established welfare systems in the world. It is predominantly controlled by the social security system. Welfare benefits in the country are disbursed under various schemes, such as cash benefits, healthcare, education, housing, and personal social services. Cash benefits are classified into three subgroups: national insurance; means-tested; and non-contributory benefits.

Key Highlights

• The Department of Pensions, Department of Medical care, Department of Unemployment, and Local Government Social Insurance Agencies organizations are responsible for the functioning of the overall social security system
• A person's national insurance contribution is determined based on their income
• An insured person who is unemployed or unable to work and whose benefits have been exhausted is entitled to a credited contribution
• In China, employers provide voluntary retirement benefits to their employees through occupational pension schemes, and enterprise annuity plans

Scope

This report provides a detailed analysis of employee benefits in China:

• It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
• It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, unemployment benefits, Housing fund, leaves and holidays and private benefits
• It highlights the economic and regulatory situations relating to employee benefits in China

Reasons to Buy

• Make strategic decisions using in-depth information related to employee benefits in the country
• Assess employee benefits of the market, including state and compulsory benefits and private benefits
• Gain insights into the key employee benefit schemes offered by private employers in the country
• Gain insights into key organizations governing employee benefits market, and their impact on companies