China to take steps to promote jobs amid trade dispute with US

China to take steps to promote jobs amid trade dispute with US

China will take targeted steps to promote employment, state radio said on Friday, citing a regular cabinet meeting, as the economy slows amid a trade dispute with the United States.

Man works on electric machine parts at a workshop of an equipment manufacturing company in Weifang,
A man works on electric machine parts at a workshop of an equipment manufacturing company in Weifang, Shandong province, China October 31, 2018. China Daily via REUTERS

BEIJING: China will take targeted steps to promote employment, state radio said on Friday, citing a regular cabinet meeting, as the economy slows amid a trade dispute with the United States.

The government will provide loan guarantees to startups to help create jobs and will refund 50 percent of unemployment insurance premiums to some firms facing difficulties from Jan. 1, 2019, the cabinet said.

(Reporting by China Monitoring Desk and Kevin Yao; Editing by Nick Macfie)

Source: Reuters

Bookmark