Employees work in Skyworth's workshop in Guangzhou, south China's province of Guangdong on February 10, 2020. DENG HUA XINHUA BEIJING China is stepping up its efforts to save jobs this year, with some 64.63 billion yuan $9.19 billion already being offered to businesses this year.
In the first eight months of the year, there were 44.84 billion yuan refunds given to some 7.21 million businesses, or more than half of all employers covered by the social security net, according to the Ministry of Human Resources and Social Security.
The number of beneficiaries and the amount of money were 1.9 and 1.8 times their reported levels for the whole of 2021.
3.96 million companies in regions affected by COVID 19 outbreaks and the five hardest-hit industries, including the catering sector, were given 19.68 billion yuan in one-time training subsidies.
The government has provided grants totaling 110 million yuan to 33,000 companies to help college and university graduates in their search for employment, helping some 103,000 graduates.
The 160 million-plus market entities of China, which offer 600 million jobs, are the cornerstone of the economy and are crucial to the stability of employment, according to Zhang Chenggang from the Capital University of Economics and Business.
He said that the pro-employment funds will encourage employers to keep jobs, boost business confidence and stabilize the economy.