29 February 2024
The Guangzhou Municipal Medical Security Bureau, the Guangzhou Municipal Finance Bureau, the Guangzhou Municipal Tax Service, State Taxation Administration (“the authorities”) issued the “Notice in relation to the Gradual Reduction of Employee Basic Medical Insurance Premium Rates” (“the Notice”) on 29 February 2024. The authorities announced that the basic medical insurance premium rate for employees shall be reduced to 4.5% and the basic medical insurance premium rate for employees under flexible employment shall be reduced to 6.5%. This Notice shall be effective from 29 February 2024 and valid until 31 December 2025.