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Guangzhou will begin to try a new rule Monday to help employees of State-owned enterprises (SOEs) with bad economic performances to enjoy basic medical insurance.
Most SOEs hard up for money failed to pay medical insurance for employees including retirees. About 35,000 retirees from Guangzhou’s 148 SOEs short of money did not have basic medical insurance.
According to the law, all enterprises must provide medical insurance for all employees, including retirees.
The new rule stipulates that SOEs provide partial medical cover if they are short of money. Large shareholders of SOEs should pay at least one-third of the money needed for medical insurance for retirees if the SOEs are hard up.
The new rule, to expire June 30, 2008, also applies to collectively owned enterprises.
(Shenzhen Daily September 1, 2003)
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