Em­ploy­ment kept sta­ble amid down­ward pres­sure

China Daily European Weekly - - News Digest -

A num­ber of mea­sures dis­closed on Dec 5 are ex­pected to keep China’s em­ploy­ment mar­ket sta­ble and sup­port the real econ­omy amid in­creas­ing down­ward pres­sure. Four mea­sures were re­leased in a guide­line by the State Coun­cil, China’s Cab­i­net, to pro­mote sta­ble em­ploy­ment, sup­port com­pany op­er­a­tions, busi­ness star­tups and pro­fes­sional train­ing, and help laid-off work­ers. Fifty per­cent of the un­em­ploy­ment in­sur­ance paid the pre­vi­ous year will be re­funded to com­pany par­tic­i­pants in the so­cial se­cu­rity pro­gram if they don’t lay off any work­ers or keep re­dun­dan­cies to a min­i­mum. In­di­vid­u­als and small busi­nesses can ap­ply for loans of up to 3 mil­lion yuan ($437,000; 384,000 eu­ros; £343,000). In the next three years, 1 mil­lion young peo­ple will be trained and in­tern sub­si­dies will be ex­panded to those ages 16 to 24 who have yet to find jobs.

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