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Workers' compensation insurance is an important part of the social insurance system. It is a social security system in which the state and society provide medical treatment, livelihood protection, economic compensation, medical and vocational rehabilitation, and other material assistance to laborers and their relatives who have suffered accidental injuries and suffered from occupational diseases in production and work.

Approved by the State Council, the Ministry of Labor and Social Security, the Ministry of Finance, the Ministry of Health, and the State Administration of Work Safety jointly issued the Circular on Work-Related Injury Insurance Premium Rate Issues (Ministry of Labor and Social Security [2003] No. 29) in October 2003, which stipulates the division of industries, determination of the premium rate, and the fluctuation of the premium rate: based on the degree of risk of work-related injuries in different industries, the premium rate is determined with reference to the "Classification of Industries of the National Economy" (GB/T4754-2002), which is a social security system. GB / T4754-2002), the industry is divided into three categories: one for the less risky industries (such as banking, securities industry, etc.), two for medium-risk industries (such as real estate, railroad transportation industry, etc.), three for risky industries (such as petroleum processing, coal mining, etc.), respectively, the implementation of the three different rates of contribution to the workers' compensation insurance.