China’s government will introduce a set of key measures aiming to boost employment, according to guidelines published by China’s State Council, the cabinet.
The guidelines stated that companies with no layoffs or few layoffs can get back 50% of unemployment insurance premiums that they paid in the previous year. For those with temporary production difficulties but with space to recover, the proportion will be bigger.
Small and micro enterprises will also have easier access to loans. The state financing guarantee fund, which aims to provide support for financing guarantee projects backed by local governments, will play an active role in supporting small and micro businesses. Read More