The Social Security Agreement between the Government of the People's Republic of China and the Government of the Grand Duchy of Luxembourg and its administrative agreement were signed in Beijing on the 27th. Under the agreement, employees of Chinese enterprises seconded to work in Luxembourg will be exempt from pension insurance contributions in Luxembourg. Employees seconded by Luxembourg to China will likewise be exempt from pension insurance contributions in China.     

        Zhang Yizhen, vice minister of China's Ministry of Human Resources and Social Security, and Marc Hübsch, ambassador of the Grand Duchy of Luxembourg to China, signed the agreement on behalf of their respective governments. The signing of the agreement will help safeguard the social security rights and interests of workers on both sides, resolve the problem of double payment of social insurance contributions by enterprises and employees investing in each other's countries, reduce the cost of investing abroad, promote bilateral economic and trade relations, and facilitate personnel exchanges. The agreement will take effect after both sides complete their respective domestic legal procedures.

        To date, the Chinese government has signed bilateral social security agreements with Germany, South Korea, Denmark, Finland, Canada, Switzerland, the Netherlands, France, Spain and Luxembourg.

Source: CRI Online 2017-11-27