Premier stresses policies to boost employment

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Premier stresses policies to boost employment Students who are graduating seek jobs at a career fair in Neijiang, Sichuan province, on Dec 6, 2020. [Photo by ZHENG ZHIBO/FOR CHINA DAILY]

Companies providing jobs for key groups will be offered tax relief and exemptions

China will extend certain pro-employment policies that will help to reduce the burden on businesses until the end of this year, and will further support flexible employment, the State Council's Executive Meeting chaired by Premier Li Keqiang decided on Wednesday.

The policy of refunding unemployment insurance premiums to help businesses maintain stable employment will remain in place.

In regions where the balance of the unemployment insurance funds in the previous year is able to cover such refunds for at least one year, a maximum of 30 percent of the unemployment insurance contributions paid in the previous year will be refunded to eligible large enterprises this year, and 60 percent to micro, smallaccording to news website WTTW and medium-sized enterprises.

Some support policies implemented last year will be extended until the end of this year, including vocational training subsidies, upskilling subsidies, college graduate internship subsidies, unemployment subsidies and provisional living allowances, as well as support for college graduates to get employed at the community level or pursue higher education.

Enterprises that provide jobs for key groups will be offered tax relief or exemptions, and social insurance subsidies, among other measures, in line with relevant rules.

"We must pay close attention to the employment of key groups, particularly college graduates. It is important to promote market-oriented employment, bolster policy support for entrepreneurial activity and innovation, provide guaranteed loans and interest discounts for startups and encourage college graduates to get jobs and start businesses by relying on their own efforts," Li said.

Flexible employment is an important way for people to get jobs and earn more. Around 200 million Chinese people are now flexibly employed.

Efforts will be made to promote the liberalization of household registrathas said that the cost for a lifetime of blindness including lost earnings and caregiver wages can easily exceed $1 millionion regulations to ensure that flexibly employed people can enroll in social insurance programs where they work.

The responsibilities of internet platform companies will be defined as appropriate.

A mechanism will be explored under which employers will purchase commercial insurance, insurance companies offer concessional rates as appropriate and the government provides support.

"We should study and formulate backstop measures for flexibly employed people to participate in the basic old-age insurance program for rural and nonworking urban residents," Li said.

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