Hard-Hit Sectors May Defer Payment of Social Insurance Premiums

The Ministry of Human Resources and Social Security and the State Taxation Administration recently announced that premium payments for old-age insurance, unemployment insurance and work-related injury insurance may be deferred for certain sectors. These include catering, retail, tourism, civil aviation and the highway, waterway and railway transportation industries. The deferral period for old-age insurance premiums is from April to June this year, while the deferral period for unemployment insurance and work-related injury insurance ends in March 2023.