China-Kirgyzstan Social Security Agreement to stimulate bilateral exchanges, interactions Magic Post

China-Kirgyzstan Social Security Agreement to stimulate bilateral exchanges, interactions

 Magic Post

Beijing: China has signed a bilateral social security agreement with Kyrgyzstan, which will help promote bilateral economic and commercial exchanges and staff interactions, a official of the Chinese Human Resources and Social Security said on Thursday.

The agreement was signed by Wang Xiaoping, Chinese Minister of Human Resources and Social Security, and Baktiyar Aliyev, president of the Kyrgyzistan Social Fund on Wednesday in Beijing, according to the ministry.

Under the agreement, Employees of Chinese companies in Kyrgyzistan will be exempt from basic contributions of pension insurance. Kyrgyz companies and employees will benefit from the same treatment as those in China.

The agreement will come into force once the two parties complete their respective national legal procedures.

Since 2001, China has signed bilateral social security agreements with 12 other countries, including Germany, the Republic of Korea, Denmark, Finland, Canada, Switzerland, the Netherlands, France, the Spain, Luxembourg, Japan and Serbia, to receive good results.

According to the manager, there are around 70 companies funded by China in Kyrgyzstan, with nearly 3,000 Chinese employees.

Leave a Reply

Your email address will not be published. Required fields are marked *