Does Panzhihua Iron and Steel Xichang Navanadium Co., Ltd. have a buyout policy for seniority this year?

No.

Buying out seniority is not in compliance with labor laws, but it is possible for companies to lay off employees due to excess personnel. The regulations for layoffs at Panzhihua Iron and Steel Co., Ltd. are: gay men who have served for 30 years and are over 50 years old will receive living expenses and social security contributions from the company until the statutory retirement age. If a comrade who is less than 5 years away from the statutory retirement age retires internally, the social security fee will be paid by the employer and himself until the statutory retirement age. Other laid-off employees will receive laid-off compensation based on the compensation standard of one month's salary per year.

Buyout of seniority is actually a way to terminate the labor relationship. It converts the amount of compensation according to the employee’s seniority and leaves the labor relationship after the buyout.