Employee Benefits in China, New Report Launched

China is the world’s largest country, based on population. Despite being the second-largest economy in terms of nominal GDP and purchasing power parity after the US, its development is not uniform. China is continuously trying to improve its social security system by extending cover and, as a result, more than 70% of the country’s population is now covered by health schemes. China’s social security system includes various types of social insurance schemes, and social assistance and supplementary schemes. The Ministry of Human Resources and Social Security (MHRSS), which administers the Social Insurance Law, is the apex body responsible for effective functioning of the country’s social security system. According to the 2012 Statistic Bulletin on Human Resource and Social Security Development released by the MHRSS, the country’s social security system recorded annual revenue growth of 20.2%, reaching CNY2.89 trillion (US$0.463 trillion), while social security expenditure rose by 22.9% to CNY2.22 trillion (US$0.355 trillion). As most social security schemes do not meet employees’ requirements, several private companies offer voluntary supplementary schemes.

The report provides in-depth industry analysis, information and insights of the employee benefits in China, including:

• Overview of the state and compulsory benefits in China
• Detailed information about the private benefits in China
• Insights on various central institutions responsible for the administration of the different branches of social security
• The regulatory framework and recent regulations relating to Chinese employee benefits

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 benefits, long-term disability benefits, short-term sickness benefits, medical benefits, maternity and paternity benefits, housing fund, unemployment 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 Chinese employee benefits
• Assess the Chinese employee benefits market, including state and compulsory benefits and private benefits
• Gain insights into the key employee benefit schemes offered by private employers in China
• Gain insights into key regulations governing Chinese employee benefits, and their impact on companies

Key Highlights

• Chinese social security system includes various types of social insurance schemes, and social assistance and supplementary schemes
• The Chinese social security system is under a process, with an aim to unify the social security and benefit systems
• The unified system consists of retirement, death in service, medical, unemployment, maternity and disability insurance, with state and compulsory benefits provided by the social insurance system
• As the country’s social security system is mandatory, and contributions to social security are relatively high, private employee benefit plans are not popular in China

Spanning over 44 pages, 7 Tables and 13 figures “Employee Benefits in China” report covering Executive Summary, Introduction, Country Statistics, Overview of Employee Benefits in China, Regulations, State and Compulsory Benefits, Private Benefits, Macroeconomic Indicators, Appendix.

Know more about this report at – http://mrr.cm/ZLY