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Since Jan. 1, the Guangzhou injury insurance premium ratio has rebounded to June 2012 levels, Information Times reported, citing the Guangzhou Municipal Bureau of Human Resources and Social Messages.
The Guangzhou authorities lowered the proportion of industrial injury insurance premium from July to December 2012 in order to reduce the burden on enterprises and help them withstand the international financial crisis. The injury insurance premium ratio was lowered based on the frequency and the varying degrees of occupational accidents in different sectors. During this period, a fee burden of 150 million Chinese yuan ($ 24.13 million) was borne by the city's insurance unit. Read more