Chinese authorities considering equal social insurance for Macau and HK residents
Chinese authorities considering equal social insurance for Macau and HK residents | Insurance Business Asia
Life & Health
Chinese authorities considering equal social insurance for Macau and HK residents
Draft regulation also outlines preferential policies
Life & Health
By
Kenneth Araullo
Authorities in Guangdong province in China have initiated a public consultation regarding a proposed administrative regulation for social insurance, with the initiative aiming to grant residents of Macau and Hong Kong access to social insurance services on par with mainland Chinese residents in the future.
The draft regulation outlines that Macau and Hong Kong residents would be able to seamlessly join mainland China’s social security system using their home return permit or mainland residence permit. Moreover, they would enjoy preferential policies across several sectors, including transport, tourism, and culture.
According to a Macau Business report, the social security departments at municipal and higher levels in Guangdong province would be mandated to elevate social insurance services and streamline administrative procedures for Macau and Hong Kong residents.
Currently, Macau and Hong Kong residents can participate in mainland China’s social insurance scheme and reap its benefits if they meet specific eligibility criteria while being employed, residing, or studying in mainland China.
Upon the approval of the new regulation, it is anticipated to further simplify the process of enrolling in the social insurance scheme and facilitate talent exchanges within the Greater Bay Area, according to the Human Resources and Social Security Department of Guangdong Province.
Recently, Zhuhai authorities mandated that Macau and Hong Kong residents participating in the city’s social insurance scheme verify their eligibility by the month’s end, confirming their employment and residential status. This directive has raised concerns among Macau residents who fear the potential loss of their social insurance eligibility.
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