State support for new jobs
Print Edition
CHINA will step up support for employment to cope with rising pressure on job security due to internal and external challenges, China’s State Council said yesterday.
“At present, China’s employment situation is generally stable, but risks and challenges at home and abroad are increasing and the pressure to stabilize employment is increasing,” the State Council said.
The government will attach equal importance to creating new jobs and safeguarding existing jobs, and make more effort to head off risks of unemployment, it said.
China will step up financial support for private and small firms, including implementing targeted reserve requirement cuts and encouraging banks to boost long-term loans to small firms in the manufacturing sector, the cabinet said.
Services with strong job creation potential such as housekeeping, elderly care and tourism will be boosted, while multiple means of employment will be facilitated.
China will launch an extensive employment skills training campaign, and improve the employment information monitoring system to serve employment-tracking and employer-employee match-making, the guideline said.
The government will also expand investment appropriately and stabilise foreign trade to boost employment, it said.
Further, the government will extend a policy allowing firms with few or zero layoffs to recover employment insurance premiums and will also give subsidies to some firms for staff training to the end of 2020, it said.
A policy of reducing rates for unemployment insurance and work injury insurance will be extended to April 2021.
China has in recent months rolled out a series of measures to support small and private firms that are vital for jobs.
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