According to the government several days ago, companies can delay contribution to pension funds and reduce the rates of various kinds of employee insurance. This move aims to stem rising job losses as the global downturn covers China’s economy.
Jobs can be secured by companies paying hundreds of billions of yuan less in insurance and pension payments, said three Read more…
Popularity: 2% [?]
As a result of shrinking demand overseas, exports and foreign direct investment (FDI) of China both decreased in November. This phenomenon sends new signs of economic weakness and reminds us of the crying need to take more measure to develop our economy.
As Customs authorities said, exports decreased to $114.99 billion by 2.2 percent in November, and it was the Read more…
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Policymakers discussed the issues of jobless at the three-day Central Economic Work Conference which ended yesterday.
The jobless rate could rise next year from 4% this year because of massive job cuts. If the rate rises above 5%, social stability could be threatened, a senior lawmaker warned.
So the government at the conference discussed measures to create new jobs and maintain the existing unemployment rate during the global financial crisis as rate above 5% will lead to a series of negative consequences. What is more, the number of poor urban residents would increase and living standards in cities would decline.
As a result, in order to keep the jobless rate low, local government should promptly hire Read more…
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The issue that how to ensure at least 8% economic growth next year while at the same time accelerating the nation’s economic restructuring is being discussed at the annual Central Economic Work Conference.
The conference which began in Beijing on Monday will come to an end today. The three-day event is expected to how more details on how the government will use fiscal and monetary measures to support employment and domestic demand, while reducing excessive dependence on exports.
According to Song Hong, a researcher with the Chinese Academy of Social Science (CASS), the meeting will announce the detailed measures for the goal of economic growth in Read more…
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Based on the measures given by the central government, the transaction taxes has been lowered and payments and mortgage rates been reduced to bolster the sagging real estate market.
But analysts said the measures may not change the situation completely because the current prices have been much out of purchase ability of many buyers.
In order to Read more…
Popularity: 2% [?]
