On Wednesday, China revealed new measures to achieve stability in employment, which includes expanding the volume of social insurance benefits, special loans and supporting young people looking for work, in the light of the country’s confrontation with a long trade war with the United States.
Local authorities in some areas will increase unemployment insurance rates for maximum companies from 60 to 90 percent, and for large companies – from 30 to 50 percent. According to the Council of Ministers, companies that are faced with operational difficulties can be applied to postpone their contribution to retirement, unemployment and work injuries.
The Council of Ministers said: “Local authorities and relevant authorities must bear political responsibility for employment stability, monitor the implementation of politics and immediately carry out new measures.”
The Council statement says that companies that hire unemployed youth at the age of 16 and 24 years under contracts and pay full insurance for at least 3 months can receive one support of up to 1,500 yuan ($ 209) per person. He also indicated that local authorities should expand access to professional education, allowing unemployed youth and migrant workers to enter technical schools, simultaneously facilitating age limitations.
Last month, the National Statistics Bureau data showed that the unemployment rate among young people aged 16 to 24 years in China, with the exception of university students, decreased to the lowest level in May in May, but they remained high by 14.9 percent. The data showed that the unemployment rate among young people aged 25 to 29 years, with the exception of students, also slightly decreased from 7.1 to 7 percent.
Nevertheless, recent business surveys indicate that Chinese companies are under growing pressure to reduce wages and jobs to stay on the feet among the warm request of the house and abroad.
In a separate context, the Chinese Ministry of Industry announced on Wednesday that he would accept complaints from car suppliers if the main Chinese car manufacturers do not fulfill their obligations to pay for their terms in order to consider the fears of suppliers regarding gaps in payment provisions.
The ministry added – in its statement – that the electronic platform is launched, it allows suppliers to report car manufacturers who determine the payment periods in contracts for the purchase for more than 60 days or delay the payment, delaying the exam for products or receipts for no good reasons, or forcing medium and small suppliers to accept non -combat payments.
The Chinese automobile sector became a witness to the state of extreme tension; Where the price war, which began at the beginning of 2023, did not show any signs of decline. 17 Chinese car companies in June promised to pay suppliers within 60 days, in response to a recent conviction of materials for the production of materials, including steel manufacturers, relatively long payment periods, with a growing negative reaction to the overwhelming price of war.
In March, the Chinese authorities issued new bases, obliging large companies to resolve most of their payments with suppliers for 60 days, starting on June 1.
Commercial documents are used in the real estate sector, and they are common among developers in order not to classify debts of interest. He promises suppliers to pay it in a certain future story, usually for one year, although suppliers sometimes sell it before the date of the right to discount in the secondary market.
