China introduces employment support, and the catalyst that gave us tensions

BEIJING – Senior Chinese officials have set plans to support jobs and assist exporters, while hinting on the possibility of more motivation in light of increasing trade tensions with the United States

In just a few weeks, the sacred definitions between the United States and China have multiplied more than twice to more than 100 %, Forcing Chinese factories to stop production He told some workers to stay at home. Exports were a rare bright point in the Chinese economy, which faced pressure from dull consumption and real estate riding.

“The stability of the labor market is still a decisive concern for Chinese policy makers, given its direct association with social stability and the restoration of consumption.” They estimate that about 16 million jobs in China are involved in the production of goods that are exported to the United States

On Monday, the authorities admitted the impact of commercial tensions on jobs in exporting companies. China has repeatedly confirmed that consumption is its priority for this year. But the press conference on Monday focused more on the efforts to achieve stability in the work.

The briefing came after the Ministry of Human Resources announced on Friday Subsids for companies that employ new graduatesBut he did not specify an amount. Officials who speak on Monday have spoken widely about plans to enhance entrepreneurship, increase training in professional skills and better distribute wages to workers in areas with “urgent” needs.

“They will have more confidence to take orders,” CNBC.

He pointed to modern measures, in addition to the National Agency for Economic Planning for Development and Reform, to help exporters sell products locally and reduce operating costs such as rent.

Xing was speaking alongside senior officials of the economic plan, the central bank and the Ministry of Human Resources.

In addition to current employment pressures, A record number 12.22 million Higher education graduates enter the labor market in China this year, 430,000 last yearAccording to official numbers.

The urban unemployment rate in China between the ages of 16 and 24, with the exception of students, reached a high level of 16.5 % in March, according to data from National Office for Statistics. This represents a modest decline of 16.9 % in the previous month. The total unemployment rate of the population of working age in cities It fell slightly to 5.2 % in March From the highest level in two years at 5.4 % in February.

“By the end of September, China will reduce political rates by 20 basis points, with the age of 50 basis points for the rate of reserve requirements, or the amount of cash banks it needs at hand.

The comments of Chinese officials on Monday followed a high -level political meeting on Friday Take measures to assist businessAnd he said that the central bank would reduce prices as needed.

Zhao Chenixin, Vice President of the Economic Planning Agency, told reporters that China is confident that it could achieve its growth goal for the entire year about 5 %, and will provide gradual motivation with the change of the total economic situation.

He stressed that the policies needed to increase consumption and establish a technology development fund at the state level will be implemented by the end of June.

Beijing has increased economic support since late September, but the measures have not yet been exactly in the incentive that has been hoping for many investors. GDP has grown better than expected 5.4 % in the first quarter of last year.

“We believe that policy makers are awaiting more clarity on the impact of customs tariffs before adhering to more charger stimulation,” Louise Le Louise, an economist at Oxford Economic, said in a Monday note. The gross domestic product in the second quarter “is very likely that it will be greatly affected, as exports and more than the momentum compensate behind the investments charged with motivation.”