'Sense of gain' shows China's progress in economic and social fields

Senior citizens take exercises at a care home in Beijing. The number of beds at such institutions is far from sufficient in the capital. [Jiang Dong/China Daily]

Social security

In the future, Chinese workers and companies will not have to contribute more than 40 percent of the total wages to the social security programs.

The government is devoted to lowering the contribution rates of pension insurance, unemployment insurance and housing provident funds in a two-year period starting May 1.

According to a latest progress report, 15 provincial-level regions have unveiled plans to cut the contributions to social security programs.

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15 provincial-level regions unveil cuts in social security programs