The city has returned about 797 million yuan (US$119.47 million) to the first batch of over 799,700 eligible enterprises and institutions since May 20 to ensure stable employment, the municipal social insurance fund management administration said Tuesday.
According to the measures to relieve enterprises’ burden released this March, Shenzhen will refund a large company 30% of the unemployment insurance payment the company actually paid the previous year and 90% for small and micro-sized enterprises.
Currently, the city has returned 30% of the actual unemployment insurance payment from the previous year to qualified enterprises and institutions, and will fill the remaining parts to eligible ones once further requirements are released.
After a total of 810,000 enterprises and institutions applied for the refund, over 799,700 of them were found meeting requirements to apply for the employment retention subsidy after their information was examined and verified by the Shenzhen Municipal Human Resources and Social Security Bureau with the city’s State-owned assets supervision and management, market regulation, tax departments and others, and were given the subsidy.
The self-employed who pay social insurance payment as an enterprise are newly added to the list to qualify for the subsidy.
Longhua District is also working on measures to stabilize employment and relieve enterprises’ burden. The district has adopted three batches of 48 measures in helping enterprises, talents, education, the elderly and the disabled that cover fields such as technological innovation, intelligent manufacturing, artificial intelligence, digital culture, internet and e-commerce.
An official from the district government services data bureau said that Longhua is expected to provide over 65 million yuan in benefits to 500 enterprises and 250,000 residents.