China is set to introduce new measures to stabilize its economy and job market, aiming to promote high-quality development and ensure stability. Zhao Chenxin, deputy head of the National Development and Reform Commission (NDRC), outlined the plans at a press conference on Monday.
These new strategies focus on five key areas:
1. Supporting Employment
The government plans to encourage businesses to maintain stable staffing levels. Initiatives include intensifying vocational skills training, expanding work-relief programs, and strengthening public employment services to help more people find jobs.
2. Keeping Foreign Trade Stable
To bolster foreign trade, tailored policies will assist export enterprises in mitigating risks. China aims to expand the global presence of its service products and encourage foreign-funded enterprises to reinvest in the country.
3. Promoting Consumption
Measures will be introduced to boost service consumption and improve eldercare services for disabled seniors. The government also plans to stimulate auto sales and establish skills-oriented wage distribution systems to enhance consumer spending.
4. Expanding Effective Investment
Efforts will focus on improving consumption-related infrastructure and galvanizing private investment. New policy-based financial instruments will be introduced to support these investments.
5. Fostering a Sound Environment for Development
China intends to keep its capital markets stable and active. The government will consolidate the stable development of the real estate market and increase financial support for the real economy.
Zhao emphasized that all policies are crafted with a strong focus on specificity and practicality, ensuring that enterprises and individuals experience tangible benefits. “Each measure will be introduced once ready,” he said, highlighting the government’s commitment to effective implementation.
