China to support labour-intensive businesses to create jobsOctober 27th, 2008 - 1:57 pm ICT by IANS
Beijing, Oct 27 (Xinhua) The Chinese government will support labour-intensive enterprises, small and mid-size businesses, private companies and the service sector to create more jobs in the face of the global financial meltdown.”The ongoing international financial crisis has affected the employment situation in China, particularly many export-oriented enterprises,” said the Ministry of Human Resources and Social Security (MOHRSS) spokesman Yin Chengji here Monday.
Narrowing overseas demand in the wake of global economic slowdown could have a negative impact on the growth prospects of exports-dependent China, creating largescale unemployment.
“Our economy is highly reliant on overseas demand. Slacking exports resulted from the global economic slowdown would have a negative impact on the economy,” governor of the country’s central bank Zhou Xiaochuan Sunday told the National People’s Congress.
The country created 9.36 million jobs in the first three quarters, and helped another 4.09 million laid-off workers find re-employment, Yin told a press conference.
By the end of September, China had a registered unemployment rate of four percent, with about 8.3 million out of job. The unemployment rate was the same as what the country had at the end of last year.
To bail out businesses in distress, the government decided to increase credits and loans to them and offer them more tariff refunds for exports, he said.
The spokesman said the government would try to help business entities create jobs by offering them finances and liberal tax benefits and coordinate closely with related government bodies to increase employment opportunties for graduates.
The government would also provide more career training for laid-off workers, helping them to be re-employed as soon as possible, Yin said.
The government has transferred 219,000 labourers from areas of Sichuan province hit by the May 12 quake to other places for new jobs. Another 865,000 people were aided by the government to find jobs in places where they live.
The government will start pilot programmes to establish a pension system in rural areas and expand the urban pension system to rural migrating labourers, Yin said.
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Tags: business entities, financial meltdown, global economic slowdown, growth prospects, intensive enterprises, international financial crisis, mid size businesses, ministry of human resources, sichuan province, zhou xiaochuan