1. As of 1st January 2017, the rate of basic medical insurance premiums for employees in Shanghai shall be reduced from 12% down to 11.5%. To be more specific, the employers’ payment rate of basic medical insurance premiums shall be cut back from 8% to 7.5%, while the payment rates for employers’ part of local additional medical insurance premiums (2%) and individual part remain unadjusted.
2. From 1st January 2017 to 30th April 2018, the rate of unemployment insurance premiums shall drop from 1.5% to 1% temporarily, in which the employers’ part of unemployment insurance premiums shall be reduced from 1% to 0.5%, while the individual part stays unadjusted.