China offers US$9b to businesses to maintain jobs

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China has stepped up efforts to save jobs this year, with some 64.63 billion yuan having already been offered to businesses this year. Unemployment insurance refunds totaling 44.84 billion yuan were given to some 7.21m enterprises, or more than half of all employers covered by the social security net, in the first eight months of the year, according to the Ministry of Human Resources and Social Security.

The amount of money and number of beneficiaries were respectively 1.9 and 1.8 times their levels reported for the whole of 2021. Approximately 19.68b yuan in one-time training subsidies was paid to 3.96m companies in regions impacted by COVID-19 outbreaks and in the five hardest-hit industries, including the catering sector.— XINHUA

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