Chinese premier promises more jobs

July 18th, 2012 - 5:03 pm ICT by IANS  

Beijing, July 18 (IANS) Chinese Premier Wen Jiabao has promised to generate more jobs, especially for fresh university graduates, migrant labourers and disabled people, even as the country’s employment situation was expected to become “more complex and severe”.

The government will help small and medium enterprises that employ more than 80 percent of the nation’s workforce, Wen was quoted as saying by the Shanghai Daily.

The premier made the remarks at a meeting in Beijing that honoured organisations and individuals for their contribution in boosting employment.

“The current and future employment situation in China will become more complex and severe. We must make greater efforts,” Wen said.

Entrepreneurs, however, say they are yet to see much impact from earlier pledges to increase lending to the private sector by state-owned banks.

The daily said that China’s slowdown was in part due to government controls imposed last year to cool an overheated economy and inflation.

Growth decelerated faster than planned, raising the threat of job losses, after global demand for exports plunged last year.

Earlier this week, the International Monetary Fund cut its China growth forecast by 0.2 percentage points to eight percent this year.

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