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China steps up efforts to stabilize employment

Xinhua | Updated: 2022-07-22 18:36
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Candidates look at employment opportunities at a job fair in Hefei, Anhui province, on May 17, 2022. [Photo/Xinhua]

BEIJING -- China is steadily carrying out measures to help enterprises tide over difficulties and stabilize employment this year, according to the Ministry of Human Resources and Social Security.

Two rounds of pro-employment policies have been rolled out in tandem in the first half of the year, Gui Zhen, an official with the ministry, said Friday.

In the first six months, 5.84 million enterprises across the nation that made no cuts or minimal cuts to staff number received 33.1 billion yuan (about $4.9 billion) of unemployment insurance refund amid the country's efforts to keep payrolls stable and boost job creation.

To relieve pressure on market entities, the ministry has lowered and postponed employment insurance premiums for industries and enterprises facing difficulties.

During the same period, some 71.5 billion yuan in unemployment insurance premiums have been cut for companies bearing the brunt of the epidemic, said Gui.

The country has also paid out 40.2 billion yuan in insurance benefits to 6.2 million unemployed people in the first half as China extends policies to expand the coverage of unemployment insurance, according to the ministry.

For the next step, the ministry will guide local departments to smooth application channels for firms and streamline the application process, ensuring the maximum number of people benefit from the policy incentives, Gui said.

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