Pearson correlation test of SOMs.

Social insurance is an essential component of a contemporary social security system since it protects people’s fundamental well-being, but it also incurs a heavy cost for businesses. If social security costs are excessively high, business profitability will suffer, and innovation will be discouraged. The most affected companies would be those in labor-intensive industries and medium-sized enterprises. Chinese businesses have suffered severe losses as a result of the COVID-19 outbreak. Given the circumstance, China enacted additional tax cuts and preferential social insurance premium plans. This article suggests a lower ratio of contribution as a strategy to cut the cost of social insurance premiums for businesses, given the growth of the social security fund in recent years and the proportion of participants to recipients in pension funds. It would be possible to increase firm profitability and lessen the impact of COVID-19 on industries by minimizing this operation burden. In order to compare the financial performance of state-owned manufacturers (SOMs) to that of their non-state-owned peers, who have a lower ratio of contribution, this study uses a multiple regression model. The ratio of contributions was inversely correlated with an enterprise’s financial performance. In other words, financial performance will improve as the ratio of contribution lowers; nevertheless, this effect is more pronounced in SOMs. The final section of this study proposed optimized approaches for social insurance premiums reform.社会保险是现代社会保障体系的核心组成部分，其既保障了民众的基本生活福祉，同时也为企业带来了沉重的运营成本负担。若社会保险缴费负担过高，则会侵蚀企业盈利能力，抑制创新活力。受影响最显著的主体为劳动密集型行业企业与中型企业。新冠疫情暴发以来，中国企业蒙受了严重的经营损失。在此背景下，中国出台了额外的减税政策与社会保险缴费优惠方案。鉴于近年来社保基金规模持续增长，且养老金基金的参保人数与领取人数比例合理，本文提出降低社会保险缴费比例作为降低企业社保缴费成本的可行路径。通过降低此项运营负担，可有效提升企业盈利能力，缓解新冠疫情对各行业的冲击。为对比国有制造企业（state-owned manufacturers, SOMs）与缴费比例更低的非国有同类企业的财务绩效表现，本研究采用多元回归模型开展分析。社会保险缴费比例与企业财务绩效呈显著负相关关系：换言之，缴费比例越低，企业财务绩效越好；且该效应在国有制造企业中表现更为突出。本研究最后一章提出了社会保险缴费制度改革的优化路径。