China moves to stabilize employment

BEIJING -- The Chinese government will introduce key measures to support employment, according to a guideline released Wednesday by the State Council, or China's cabinet.

The government will put stable employment at a more prominent position and will continue to prioritize creating jobs and implementing a more proactive employment policy, the guideline said.

Companies without or with few layoffs can get a 50-percent refund of their unemployment insurance premiums paid in the past year, according to the guideline.

The government will also fully use state financing guarantees to support financing for small companies.

To encourage entrepreneurship, the government will extend guarantees to eligible firms and individuals in their applications for loans up to 3 million yuan (about $430,000) and 150,000 yuan, respectively. Laid-off workers in areas with employment difficulties will be provided free office space to start their own businesses.

More government-subsidized training will be conducted to equip the jobless with vocational skills, while employment services and supportive policies will be given to the laid-off workers, the guideline said.