China's finance ministry mulls new policies to boost employment

BEIJING - China's Ministry of Finance will introduce policies to promote job creation and increase employment opportunities, an official said on Friday.

The ministry will further support key sectors such as the cultural and tourism industry, other modern service industries, and foreign trade, said Lin Zechang, head of the comprehensive department of the ministry, promising more investment in stabilizing employment and ensuring people's livelihoods.

Efforts will be made to further promote the employment in small and micro businesses, Lin added.

Chinese authorities have strengthened employment support for businesses and employees, including reduced premium rates for unemployment insurance, insurance refunds and subsidies for vocational skills training, among other measures.

The job market remained generally stable in the first 11 months of 2024, as the surveyed urban unemployment rate on average edged down on a year-on-year basis.

The surveyed urban unemployment rate on average in China stood at 5.1 percent in the first 11 months of 2024, down 0.1 percentage points year-on-year, according to the National Bureau of Statistics.