On March 21, the Shanghai government announced the drop of contributions by companies to social security premiums by 2.5 percent. The city cut its pension contributions by 1 percent, medical insurance by 1 percent, and unemployment benefits by 0.5 percent, while maintaining the same level of social security benefits.
The ministerial approval rating of the Supreme People’s Court and the Supreme People’s Procuratorate hit a multi-year high in 2016. The figures seem to indicate strongly the public’s perception of an improving legal environment and justice administration.
The director of CIRC’s life insurance supervision department Yuan Xucheng noted that the rapid growth of short- and mid-term insurance products has caused concerns about the risks created by potential asset-liability mismatches and liquidity conditions.
Huawei has been successful in extending its leadership position in the ICT area to the smart city market. Its Safe City Solution has reportedly been deployed in more than 100 cities globally in collaboration with multiple technological partners.
Longmay is the largest state owned coal company in Heilongjiang, producing close to 50 million tonnes of coal a year. On March 12, Governor Lu acknowledged that wages were in arrears for Longmay’s workers and attributed the gaffe to Longmay’s management’s withholding of information.