Accountancy in China

>> Employment in China

Social security

Social Security includes Housing, Unemployment and Pension Insurance. The correct amounts to each as follows.

  • Housing Insurance = 7% of the Chinese Employment’s payroll
  • Unemployment Insurance = 2% of the Chinese Employment’s payroll
  • Pension Insurance = 22% of the Chinese Employment’s payroll

Employment of foreign personnel

The social security of foreign personnel is paid in his/her mother company. The foreign personnel in China shall pay for his/her IIT based on a progressive IIT form.

Medical

Medical Insurance is equal to 12% of the Chinese Employment’s payroll.

Payroll taxes

(See Personal Income tax, above)


Latest version updated 12th March 2018

Country Breakdown

1.4

Billion

Population

¥

Renminbi

Currency

$ 11.2

Trillion

GDP

9.597

Million

km2