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December 21, 2009

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Job policies help make a difference

CHINA'S proactive employment policies and measures in the wake of the financial crisis have generated positive results, Yin Weimin, minister of Human Resources and Social Security, said over the weekend.

The country is expected to create more than 11 million jobs this year, well above the target set in March, Yin said.

Yin attributed the job creation to a policy allowing millions of enterprises nationwide to delay payment of enterprise-contributed social security funds for up to six months.

The same measure also temporarily lowered insurance rates for medical, work injury, unemployment and maternity leave.

Yin said this measure alone had eased the burden on companies by nearly 33.9 billion yuan (US$5 billion) in the first 10 months of this year.


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