China to boost real economy to stabilize employment

23 july 2018

China will help boost the real economy to stabilize employment, the country’s top economic planner said Monday.

China’s overall employment conditions are stable, but still face structural challenges due to the transformation and upgrading of industries as well as domestic and international uncertainties, according to a guideline released by the National Development and Reform Commission and 16 other government agencies.

To retain jobs, the government will support enterprises in line with industrial transformation policies but affected by domestic and international uncertainties.

Employees affected by industry structural adjustment and trade friction will enjoy financial support and certain job offers.

The guideline encourages innovation and entrepreneurship to generate jobs, supply-side reform in agriculture to train more professional farmers and high-quality urbanization to boost local employment.

In June, the unemployment rate in urban areas was 4.8 percent, unchanged from May and down 0.1 percentage points from June last year, according to the National Bureau of Statistics.

The urban unemployment rate in 31 major cities was 4.7 percent, unchanged from May, and down 0.2 percentage points year on year.

Source: XINHUA