On May 19, 2017, the Chinese Minister of Human Resources and Social Security, Yin Weimin, and Spanish Minister of Employment and Social Security, Maria Fatima Banez Garcia, signed the Treaty on Social Security between China and Spain (hereinafter referred to as the “Treaty”) during the G20 meeting in German. According to the Treaty, employees of Chinese companies working in Spain and the related companies in Spain will be exempted from contributions to the Spanish mandatory social insurances, including pension and unemployment insurance. Spanish companies and their employees will correspondingly enjoy equal treatment in China. This Treaty aims to solve the problems of double payment of social security premiums by companies and employees from China and Spain, in order to reduce companies’ costs and facilitate trade and personnel exchange between the two countries. The Chinese government has already entered into bilateral social security agreements with the governments of Germany, South Korea, Denmark, Finland, Canada, Switzerland, the Netherlands and France.