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In recent months, the government has taken steps to spur bank
lending, cut taxes and boost infrastructure spending, in a bid
to ward off a sharper slowdown in the economy.
"The current domestic and international situation is complicated
and the employment pressure is still big," the cabinet was
quoted as saying.
The government will give priority to supporting small and
private firms vital for job creation and will provide loan
guarantees to startups, the cabinet said.
It will refund half of unemployment insurance premiums to some
firms facing difficulties from Jan. 1, 2019, it added.
An existing policy of implementing a 1 percent ratio on
unemployment insurance premiums is to be extended after the end
of April next year, the cabinet said.
China will take more timely steps to support its economy, which
faces increasing pressure, the politburo, a top decision-making
body of the ruling Communist Party, said on Wednesday.
China is likely to see more job losses as the economy slows and
firms feel more pains from higher U.S tariffs, analysts say.
(Reporting by China Monitoring Desk and Kevin Yao; Editing by
Nick Macfie and Clarence Fernandez)
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