Chinese Premier li keqiang warned of a “complicated and dire” employment situation as the country continues to impose a widespread lockdown covid outbreak,
According to a statement Saturday, Lee directed all government departments and sectors to prioritize measures aimed at helping businesses retain jobs and overcome current difficulties, which premiered at a nationwide teleconference on employment. Comments cited.
“Stabilizing employment matters to people’s livelihoods, it is also an important support for the economy to operate within a reasonable range,” said Lee, asking businesses to resume production with measures to fight Covid. urged to do
China’s top leaders last week doubled down on the country’s COVID-zero strategy, warning against any attempt to question the lockdown-dependent approach, even as factory closures and supply-chain disruptions continue. Between April, economic activity decreased sharply.
The premier warning on employment came after the country’s survey unemployment rate climbed to 5.8% in March, the highest since May 2020, according to data released by the National Bureau of Statistics in mid-April.
China reported 4,384 new Covid-19 cases on May 7. Shanghai, which has been under some form of lockdown for weeks, recorded 3,975 new infections, down from more than 4,000 daily infections previously. The financial center announced on Saturday that it would postpone entrance exams for colleges and high schools until July, while some of the city’s biggest manufacturers have said they are trying to restart plants.
Yu Wenjian, an official at the central bank’s Shanghai head office, said financial regulators in Shanghai called on local banks to promote “flexible employment” such as credit support for online-shop owners and truck drivers.
Financial institutions in the city have lent 72.3 billion yuan ($10.8 billion) to sectors including retail, catering and tourism and 33.5 billion yuan to materials suppliers and logistics companies since March, when the city’s latest outbreak began, Yu said in a statement. Said at the regular briefing. sunday. He also urged banks to allow Shanghai home buyers to delay mortgage payments or adjust payment plans to help them weather covid Effect.
Beijing reported 62 new cases as authorities in the capital scrambled to contain the widespread spread. Its eastern Chaoyang district, which houses embassies and offices of multinationals including Apple Inc and Alibaba Group Holding Ltd, ordered the closure of some businesses providing non-essential services such as gyms and movie theaters to reduce infections.
Li reiterated in the meeting that China will also promote the healthy development of Internet platform companies to support employment.
Chen Yulu, vice governor of the People’s Bank of China, said the central bank would focus more on stabilizing growth and increasing support for the real economy. In an Xinhua interview published on Saturday, Chen also said that executives will help smaller banks increase their lending capacity through the sale of perpetual bonds.
According to a statement Saturday, Lee directed all government departments and sectors to prioritize measures aimed at helping businesses retain jobs and overcome current difficulties, which premiered at a nationwide teleconference on employment. Comments cited.
“Stabilizing employment matters to people’s livelihoods, it is also an important support for the economy to operate within a reasonable range,” said Lee, asking businesses to resume production with measures to fight Covid. urged to do
China’s top leaders last week doubled down on the country’s COVID-zero strategy, warning against any attempt to question the lockdown-dependent approach, even as factory closures and supply-chain disruptions continue. Between April, economic activity decreased sharply.
The premier warning on employment came after the country’s survey unemployment rate climbed to 5.8% in March, the highest since May 2020, according to data released by the National Bureau of Statistics in mid-April.
China reported 4,384 new Covid-19 cases on May 7. Shanghai, which has been under some form of lockdown for weeks, recorded 3,975 new infections, down from more than 4,000 daily infections previously. The financial center announced on Saturday that it would postpone entrance exams for colleges and high schools until July, while some of the city’s biggest manufacturers have said they are trying to restart plants.
Yu Wenjian, an official at the central bank’s Shanghai head office, said financial regulators in Shanghai called on local banks to promote “flexible employment” such as credit support for online-shop owners and truck drivers.
Financial institutions in the city have lent 72.3 billion yuan ($10.8 billion) to sectors including retail, catering and tourism and 33.5 billion yuan to materials suppliers and logistics companies since March, when the city’s latest outbreak began, Yu said in a statement. Said at the regular briefing. sunday. He also urged banks to allow Shanghai home buyers to delay mortgage payments or adjust payment plans to help them weather covid Effect.
Beijing reported 62 new cases as authorities in the capital scrambled to contain the widespread spread. Its eastern Chaoyang district, which houses embassies and offices of multinationals including Apple Inc and Alibaba Group Holding Ltd, ordered the closure of some businesses providing non-essential services such as gyms and movie theaters to reduce infections.
Li reiterated in the meeting that China will also promote the healthy development of Internet platform companies to support employment.
Chen Yulu, vice governor of the People’s Bank of China, said the central bank would focus more on stabilizing growth and increasing support for the real economy. In an Xinhua interview published on Saturday, Chen also said that executives will help smaller banks increase their lending capacity through the sale of perpetual bonds.