CHINA China takes steps to support enterprises, stabilize employment


China takes steps to support enterprises, stabilize employment


23:39, May 06, 2020


File photo: CGTN

BEIJING, May 6 (Xinhua) -- A total of 3.2 million companies have received 42.3 billion yuan (about 5.98 billion U.S. dollars) in refunded unemployment insurance premiums so far, which benefited 85.13 million employees, the Ministry of Human Resources and Social Security said Wednesday.

The number of companies that have benefited from the policy was three times that of last year, the ministry said.

Such a policy aims to stabilize employment and minimize layoffs in the world's second-largest economy as the country strives to blunt the impact of the novel coronavirus epidemic on the economy and social life.

Chinese authorities have taken multi-pronged measures to help micro, small and medium-sized enterprises tide over and secure job positions for staff. The measures included cutting tax burdens and boosting credit support for them.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue