Premier in employment pledge
Source: Agencies |
July 18, 2012, Wednesday
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Print Edition
Print Edition
CHINA'S employment situation "will become more complex and severe," Premier Wen Jiabao said yesterday, as he promised to generate jobs.
The government will help small and medium enterprises that employ more than 80 percent of the nation's workforce, he said.
The premier made the remarks at a meeting in Beijing's Great Hall of the People honoring organizations and individuals for their contributions in boosting employment.
Private sector analysts expect the government to launch new efforts to stimulate the economy after growth fell to a three-year low of 7.6 percent in the second quarter. Forecasters expect a rebound in the second half but say its speed and strength are uncertain.
"The current and future employment situation in China will become more complex and severe," Wen said. "We must make greater efforts."
He said China will include job creation in the assessment of local government performance and urged local authorities to implement more proactive employment policies and give more priority to job creation.
Wen urged authorities to make greater efforts to find jobs for fresh university graduates, migrant laborers and disabled people.
He repeated promises to help small companies, though entrepreneurs say they have yet to see much impact from earlier pledges to increase lending to the private sector by state-owned banks.
"We should conscientiously implement the support policies to reduce the burden on enterprises and optimize the development environment," Wen said.
China's slowdown is due in part to government controls imposed last year to cool an overheated economy and inflation. But growth has decelerated faster than planned, raising the threat of job losses, after global demand for exports plunged last year.
China has cut interest rates twice since the start of June and is pumping money into the economy through higher investment by state industry and more spending on the construction of low-cost housing, airports and other public works.
Analysts say construction spending is a quick way to pump money into the economy but might impose a longer-term cost by setting back efforts to reduce reliance on investment. China has said it wants to encourage self-sustaining growth based on domestic consumption.
During an inspection tour to the southwest city of Chengdu over the weekend, Wen warned that economic problems may continue for some time. He promised tax breaks and other aid to companies hurt by slowing exports.
On Monday, the International Monetary Fund cut its China growth forecast by 0.2 percentage points to 8 percent this year. It said that a "hard landing" was still possible.
The government will help small and medium enterprises that employ more than 80 percent of the nation's workforce, he said.
The premier made the remarks at a meeting in Beijing's Great Hall of the People honoring organizations and individuals for their contributions in boosting employment.
Private sector analysts expect the government to launch new efforts to stimulate the economy after growth fell to a three-year low of 7.6 percent in the second quarter. Forecasters expect a rebound in the second half but say its speed and strength are uncertain.
"The current and future employment situation in China will become more complex and severe," Wen said. "We must make greater efforts."
He said China will include job creation in the assessment of local government performance and urged local authorities to implement more proactive employment policies and give more priority to job creation.
Wen urged authorities to make greater efforts to find jobs for fresh university graduates, migrant laborers and disabled people.
He repeated promises to help small companies, though entrepreneurs say they have yet to see much impact from earlier pledges to increase lending to the private sector by state-owned banks.
"We should conscientiously implement the support policies to reduce the burden on enterprises and optimize the development environment," Wen said.
China's slowdown is due in part to government controls imposed last year to cool an overheated economy and inflation. But growth has decelerated faster than planned, raising the threat of job losses, after global demand for exports plunged last year.
China has cut interest rates twice since the start of June and is pumping money into the economy through higher investment by state industry and more spending on the construction of low-cost housing, airports and other public works.
Analysts say construction spending is a quick way to pump money into the economy but might impose a longer-term cost by setting back efforts to reduce reliance on investment. China has said it wants to encourage self-sustaining growth based on domestic consumption.
During an inspection tour to the southwest city of Chengdu over the weekend, Wen warned that economic problems may continue for some time. He promised tax breaks and other aid to companies hurt by slowing exports.
On Monday, the International Monetary Fund cut its China growth forecast by 0.2 percentage points to 8 percent this year. It said that a "hard landing" was still possible.
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