China Provides $21.1 Billion in Employment Support, Creates 10.49 Million Jobs, Equal to 0.2% of GDP

Oct 25, 2024, 04:30 AM

The Chinese government has provided over 150 billion yuan (approximately $21.1 billion) in employment support for businesses and employees in the first nine months of 2024. This financial assistance, equal to just under 0.2% of the period's GDP, has contributed to the creation of 10.49 million new urban jobs during the same period. Official data from the Ministry of Human Resources and Social Security indicates that the job market has remained generally stable. The government has set an annual target of creating more than 12 million new urban jobs.