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The report believes that the long-term high rate of “five insurance and one gold†makes China's manufacturing industry face enormous challenges. Adjusting the level of five insurance and one gold payment is an important measure to reduce the burden of production and operation of enterprises.
The current situation employs 1 worker in China and can employ 3.5 in Indonesia.
At present, 10% to 24% of the housing provident fund contributions in various places, the nominal rate of China's "five insurance and one gold" has reached about 60%.
This research report proposes that China's “five insurance and one gold†rates have remained high for a long time, coupled with the need to improve the payment base determination and growth mechanism, which has become an important factor driving the continuous rise of labor costs and affecting the stability of production and operation. To make the competitive advantage of China's manufacturing industry greatly reduced.
The report analyzes that the cost of hiring one worker in China can be 1.5 in Thailand, 2.5 in the Philippines, and 3.5 in Indonesia. This has made China's labor cost advantage have been replaced by Southeast Asian countries.
Reducing the reduction of corporate contribution levels can be converted into income increase
Report analysis, rational adjustment of the level of five insurance and one gold payment, and the establishment of a more fair and reasonable rate determination mechanism is an important measure to reduce the burden of production and operation, control the excessive rise in labor costs, and promote the optimal allocation of labor factor resources. Stable growth, promote employment, and adjust structure.
At the same time, without affecting the level of treatment of insured personnel, reducing the current level of payment by enterprises and employees will also provide an opportunity to stimulate the vitality of enterprise employment, promote enterprise income distribution and salary reform, and improve the current wage income of employees.
According to the preliminary calculation of the income from the collection of social insurance funds in China, the policy of lowering the social security contribution rate can reduce the burden of enterprises by more than 100 billion yuan per year. The reduction of the proportion of enterprise housing accumulation fund can reduce the burden of enterprises by about 40 billion yuan each year. At around 150 billion yuan, it has greatly reduced the cost of labor for enterprises, played an active role in reducing the burden and loosening the enterprise, and helped to promote the transformation, upgrading and innovation of the enterprise.
According to the report, it is assumed that the company's burden reduction will be converted into employee income and enterprise investment construction at a 50% ratio. According to the previous relationship between investment and consumption and GDP elasticity, and deducting the policy offset effect, it can boost GDP growth by about 0.137 percentage points in 2016.
The social security premium rate is high or may not be related to excessive financial support.
Professor Hao Yansu, the executive director of the China Insurance Institute and the former dean of the Insurance College of the Central University of Finance and Economics, said in an interview with the Beijing Times reporter that the total social security rate in China is relatively high, which is related to the fact that China’s current financial burden is too large to support social security.
1. How to increase the social security payment?
Less restrictive factors are less likely
Hao Yansu believes that the welfare social security system of some countries in the world is based on a large amount of financial input.
For the pension insurance contributions that are most burdened by enterprises and individuals, the Ministry of Human Resources and Social Security has allowed some areas to reduce the rate of old-age insurance, but the decline is basically only 1%, and only for the enterprise payment. The lower payment rates for other types of insurance are mostly 1% or even lower.
Hao Yansu analyzed that from an academic point of view, as reported in the report, it is undoubtedly the most ideal to reduce the current level of social security contributions of enterprises and employees at the same time, and the decline is at least higher than the current reduction. However, he believes that it is unlikely that the relevant authorities will increase the reduction of social security contributions, taking into account the difficulty of increasing financial subsidies and the current constraints on the ability of the fund.
2. Can the delayed retirement policy be changed?
Possibility is small, hope to solve through the enterprise
Previously, the Ministry of Human Resources and Social Security had published a series of interpretations of experts on delaying retirement. The relevant experts introduced the situation mainly on the factors of delaying retirement, age, and whether the extension will affect employment, and the problem of delay time seems to be Consider more factors, such as the health of the elderly population, price increases, wage levels, and welfare security.
In this analysis of Hao Yansu, China as a developing country, China's social security total rate is close to the threshold of payment for many European welfare countries. To some extent, this is indeed inappropriate. When considering the policy of delaying retirement, the relevant departments should More consideration is given to the fact that the level of domestic income is relatively low in developed countries, while the level of social security contributions is high. The key issue of price increases and wage levels is, in the final analysis, a question of purchasing power. This is an unavoidable issue when formulating a delayed retirement policy.
Hao Yansu introduced that from the perspective of foreign countries, some countries do not pay pensions for their pension insurance participants after they have delayed their retirement. However, for those who have lost their ability to work, they will be given a certain subsidy. For workers who are still working, flexible measures such as issuing half of the salary but reducing labor intensity will be taken. In this regard, the relevant departments can appropriately refer to foreign practices.
At the same time, Hao Yansu believes that it is unlikely that government departments will change the current policy of sickness and retreat. Enterprises can consider, under the conditions of their ability, once the implementation of the delayed retirement policy is implemented, the staff and other employees can be allowed to retreat more humanely.
Extended reading: the National Development and Reform Commission released the social security rate cut signal five insurance and one gold rate is high
Lebao, which is the largest daily chemical foundry company in East China, may not have thought of landing in the New Third Board at the beginning of this year. Due to factors such as the skyrocketing salary of employees, it is difficult to produce an ideal financial report card after more than half a year. . According to Lebao shares, the company's net profit in the first half of this year dropped sharply by 80.47% due to the sharp increase in labor costs. The heavy labor cost has become a common problem for a large number of Chinese manufacturing enterprises. In order to reduce the burden on enterprises, the National Development and Reform Commission issued two articles in succession yesterday, bluntly reducing the labor and energy costs for enterprises, especially stressing the reduction of “five insurance and one goldâ€. "The policy direction of the contribution rate is reasonable to reduce the labor costs of enterprises.
Development and Reform Commission "strives" the rate reduction policy
The National Development and Reform Commission's Institute of Social Development yesterday wrote that the “five insurance and one gold†rates have remained high for a long time and have become an important factor affecting corporate costs. In Japan, the cost of hiring one worker can be 1.5 in Thailand, 2.5 in the Philippines, and 3.5 in Indonesia. China's labor cost advantage has been replaced by Southeast Asian countries. In addition, the United States and other developed countries have introduced plans such as “re-industrialization†and “revitalization of manufacturingâ€. China's manufacturing industry is facing enormous challenges.
On August 22, the State Council issued a request for a rate reduction rate when it issued the Work Plan for Reducing the Cost of a Real Economy Enterprise. The State Council pointed out that it will take 1-2 years of efforts to reduce the cost of the real economy enterprises and achieve initial results, so that the increase in labor costs is reasonably controlled. The wage level has maintained a reasonable growth, and the proportion of “five insurance and one gold†contributions to the total wages has been reasonably reduced.
Since May 1 this year, the proportion of unit payment for basic pension insurance for enterprise employees has reached 20%. The proportion of contributions is originally 20%, and the total unemployment insurance rate is reduced to 1%-1.5%. The personal rate does not exceed 0.5%. In addition, the State Council also supports local governments to raise funds through auctions and rental of government public resource assets to create conditions for reducing the proportion of corporate social security contributions. Zhao Xijun, executive deputy director of the Institute of Finance and Securities of Renmin University of China, told the Beijing Business Daily that the downward pressure on China's economy has not yet weakened. It is particularly important to improve the enthusiasm of enterprises and promote the continuous development of the economy. However, at present, China's corporate tax burden, labor costs, financing costs, institutional transaction costs and other expenditures are still relatively heavy, which is not conducive to the further development of enterprises, reducing the "five insurance and one gold" rate, is the method for enterprises to reduce costs one.
High social security pushes up labor costs
“The sharp decline in corporate profits in the first half of this year was mainly due to the increase in operating costs such as administrative expenses, staff salaries, and sales expenses. Among them, the increase in labor costs was the most serious. To retain people, Lebao shares have increased employee wages by 10%. "The relevant person in charge of Lebao shares reluctantly said.
Earlier, Oxford Economic Counseling published data showing that with the increase in wages, the appreciation of the renminbi, etc., taking into account production efficiency, China's unit labor cost is only 4% lower than the United States, more than twice as much as India's, significantly higher than Mexico, Japan and other countries and regions. Last year, the Boston Consulting Group also released report data showing that the same product, the manufacturing cost in the US is 1 US dollar, then in China it needs 0.96 US dollars. At the same time, China's wage level, from 2004, the current salary of 4.35 US dollars. It rose to $1,47 in 2014, an increase of 187%, while the salary standard for most manufacturing jobs in the United States was $10-15 per hour.
The higher level of social security contributions has indeed become an unbearable burden for enterprises. The Boston Group report pointed out that from 2000 to 2005, the average wages and benefits of workers in Chinese factories increased by 10%; in 2005-2010, the average wages and benefits of Chinese workers increased by 19%, while the cost of US factory workers increased by only 4%. . At present, enterprises in China are limited by the continuous increase of “five insurance and one gold†payment expenses and the minimum wage standard. In addition, various additional expenses make the company employ workers at least 1.5 people.
Su Hainan, vice president of the Chinese Labor Association, said that in the case of accelerating supply-side structural adjustment in China and rising costs, products with overcapacity and low value-added industries will be difficult to continue production and development.
A new way for companies to reduce staff and increase efficiency
According to the data released by the National Development and Reform Commission, according to the preliminary calculation of the social insurance fund collection income, the policy of lowering the social security contribution rate can reduce the burden of enterprises by more than 100 billion yuan per year. The reduction of the proportion of enterprise housing accumulation fund can reduce the annual burden of enterprises by about 40 billion yuan. The comprehensive reduction effect of various measures is about 150 billion yuan, which greatly reduces the cost of labor for enterprises.
In addition to reducing the "five insurance and one gold" rate, Peng Jianfeng, a professor at the School of Labor and Human Resources at Renmin University of China, told the Beijing Business Daily that reducing staff and increasing efficiency is also a good way to control labor costs. He further explained that the reduction of staff and efficiency was originally a concept proposed in the reform of state-owned enterprises. It means that while reducing the total number of employees, the quality of the workforce is gradually improved, and the structure of employees is more reasonable, which not only reduces the cost of the enterprise, but also stimulates More benefits, but such an approach is also applicable to most SMEs.
Peng Jianfeng pointed out that at present, some enterprises in China have problems such as redundant employees, the inability to create corresponding values, “relationship households†and excessive management personnel. On the one hand, the company should reduce the number of employees who do not create value, on the other hand, it must also provide professional and technical training to the remaining employees to improve the ability and efficiency of each person.
In recent years, China's development direction is to strengthen the input of human capital, promote innovation drive, and enable more entrepreneurial talents and technical backbones in high-tech industries to obtain better development conditions. To this end, the state can consider increasing support funds for SMEs to make technical talents stand out. In addition, from the perspective of improving efficiency, some insiders believe that the use of robots for manual processing is also one of the ways to reduce the cost of enterprises.
China's five insurance and one gold rate is over 13 in the world
Abstract On August 29th, the National Development and Reform Commission website published a research report from the Social Development Research Institute of the Commission, stating that the current five social security premiums for enterprise employees in China are 39.25% of the total wages of enterprise employees, and are included in the statistics of 173 countries. Ranked 13th in the region. ...
On August 29th, the National Development and Reform Commission website published a research report from the Social Development Research Institute of the Commission, stating that the current five social security premiums for enterprise employees in China are 39.25% of the total wages of enterprise employees, and are included in the statistics of 173 countries and regions. Ranked 13th in the middle.