China offers $9B for job stabilization in January-August

By Tuba Sahin

ANKARA (AA) - China provided 64.63 billion yuan ($9 billion) between January and August to support labor market and strengthen enterprises, according to the Human Resources and Social Security Ministry on Tuesday.

Some 11.2 million enterprises benefited from the ministry's unemployment insurance and job stabilization funds in the first eight months of this year, the ministry said in a statement.

The move aims to enhance businesses, stabilize employment, and protect people's livelihood.

Unemployment insurance refunds of 44.84 billion yuan ($6.25 billion) were distributed to some 7.21 million enterprises in the said period.

Some 3.96 million enterprises across China received 19.68 billion yuan ($2.75 billion) in one-time training subsidies.