December 4, 2019 / 11:36 AM / 2 months ago

China to implement more policies to stabilize jobs amid growing pressure

FILE PHOTO: Job seekers crowd a job fair at Liberation Square in Shijiazhuang, Hebei province, China February 25, 2018. REUTERS/Jason Lee

BEIJING (Reuters) - China will act more forcefully to stabilize employment as the economy cools, state television channel CCTV said on Wednesday, citing a state cabinet meeting chaired by premier Li Keqiang.

With economic growth near 30-year lows and industrial profits shrinking, Beijing has been urged to roll out stimulus more quickly and more aggressively, even if it risks adding to a pile of debt. Keeping the world’s biggest population in work is also seen as vital for political stability.

CCTV said policies considered by the cabinet include making it easier for small and micro firms to apply for start-up loans and a one-time cash reward for migrant workers who leave bigger cities to start a business back home, often in rural regions.

Reporting by Beijing Monitoring Desk; Writing by Yawen Chen; Editing by Catherine Evans

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