On April 6, Premier Li Keqiang presided over an executive meeting of the State Council and decided to implement a policy of phased deferral of endowment insurance premiums for extremely difficult industries, and to increase unemployment insurance to support job stabilization and training.
The meeting pointed out that my country’s economic operation has generally remained within a reasonable range, but the complexity and uncertainty of the domestic and foreign environment have exceeded expectations. The recovery has slowed down, the food and energy and other commodity markets have fluctuated sharply, and domestic epidemics have recently occurred frequently. The difficulties of market entities have increased, and new downward pressure on the economy has increased. We must not only strengthen our confidence, but also attach great importance to and be alert to new challenges. It is necessary to implement the deployment of the Party Central Committee and the State Council, coordinate epidemic prevention and control and economic and social development, and promptly implement the spirit of the Central Economic Work Conference and the measures of the “Government Work Report”, some can be implemented in advance. Put stable growth in a more prominent position, make overall plans to stabilize growth, adjust the structure, and push forward reforms, so as to stabilize the macroeconomic market. To keep the economy operating in a reasonable range, employment and prices are basically stable. We must stabilize market players to ensure employment, and comprehensively implement policies to ensure smooth logistics, stable industrial and supply chains, and food and energy security.
The meeting pointed out that some market players are currently severely impacted, and it is necessary to increase protections such as bailouts and employment. First, for extremely difficult industries such as catering, retail, tourism, civil aviation, highway, waterway, and railway transportation, the payment of pension insurance premiums will be suspended in the second quarter to ease the financial pressure of these industries, especially small and medium-sized enterprises and individual industrial and commercial households. The second is to continue to implement the policy of expanding the coverage of unemployment insurance, and continue to provide subsidies to the unemployed and unemployed migrant workers. The third is to increase the proportion of unemployment insurance for small and medium-sized enterprises to return to stable jobs, and increase the support of unemployment insurance funds for vocational skills training.
Zhong Huiyong, associate professor of the School of Finance of Shanghai University of International Business and Economics and deputy director of the Institute of Financial Development, told the news that catering, retail, tourism, civil aviation, highway, waterway, railway transportation, etc. Due to the impact of the spread of the epidemic this year in the extremely hardship industries, the small, medium and micro enterprises and individual industrial and commercial households in these industries have a weak ability to resist risks. The policy of suspending the payment of pension insurance premiums can alleviate the short-term financial pressure to a certain extent.
“By continuing to implement the expansion policy of unemployment insurance coverage and continuing to provide subsidies to the unemployed and unemployed migrant workers, we can help groups in difficulty to tide over the difficulties.” Zhong Huiyong said , it should be noted that the expansion policy of unemployment insurance protection can be implemented more effectively and quickly, and help groups in need as soon as possible.
Zhong Huiyong said that the proportion of unemployment insurance repayment for stable employment is generallyIt refers to the total amount of unemployment insurance premiums paid by the enterprise and its employees in the previous year, which shall be returned to the enterprise according to a certain proportion. Increasing this ratio can also reduce financial pressure on companies and better stabilize employment.