The 82nd National People's Congress Standing Committee on February 18 decided to reduce or exempt corporate social insurance premiums and implement the policy of deferring the payment of housing provident funds for enterprises this year, and take multiple measures to stabilize enterprises and employment. On the 20th, relevant ministries and commissions clarified the policy details. This policy is an important part of the comprehensive support policy to deal with the impact of the COVID-19.This "unprecedented" social security anti-epidemic new policy has three major characteristics: interim, strong, and targeted, which obviously takes into account the uniqueness of the impact of this epidemic. Since the suspension of business operations is contagious, and the quality of business operations is related to employment and people's livelihood, it is very accurate to adopt a proactive fiscal policy with fee reduction as the mainstay.The precise implementation of this new social security policy requires the country to improve capital performance in stabilizing enterprises and jobs, and there are still quite a few challenges in this regard. Generally speaking, the main task is to solve the imbalance between total revenue and expenditure, the imbalance between regions, as well as the imbalance between industries and enterprises.
