Minister: China can absorb laid-off labor

Cutting excess capacity can help countries in Belt and Road Initiative, head of NDRC says

China will not have another layoff wave as it reduces overcapacity in such sectors as steel and coal mining, Xu Shaoshi, minister of the National Development and Reform Commission, said on Sunday.

The Chinese economy has become more resilient and is able to create more jobs to absorb laid-off workers, Xu said at a news conference on the sidelines of two sessions, the annual meetings of legislators and policy advisers.