SCIO: Advancing policy toolbox remains key for employment and growth

China will roll out measures to keep its employment and economic performance stable and promote high-quality development, Zhao Chenxin, deputy head of the National Development and Reform Commission, told a press conference in Beijing on Monday.

Zhao detailed the new measures in five key areas: supporting employment, keeping foreign trade stable, promoting consumption, expanding effective investment, and fostering a sound environment for development.

On employment, the government will encourage businesses to maintain stable staffing levels, intensify vocational skills training, expand work-relief programs, and strengthen public employment services, according to Zhao.

To stabilize foreign trade development, key measures include introducing tailored policies to assist export enterprises in mitigating risks, expanding the global presence of service products, and encouraging foreign-funded enterprises to reinvest in China.

On the consumption front, measures will be unveiled to boost service consumption, improve eldercare services for disabled seniors, stimulate auto sales, and establish skills-oriented wage distribution systems, he said.

Efforts to expand effective investment will focus on improving consumption-related infrastructure, galvanizing private investment, and introducing new policy-based financial instruments.

In terms of creating a favorable environment for stable development, China will continue to keep the capital markets stable and active, consolidate the stable development of the real estate market, and increase financial support for the real economy, Zhao noted.

He said that all policies have been designed with a strong emphasis on specificity and practicality so that enterprises and individuals feel tangible benefits, and the government will introduce each measure once it is ready.

To watch the press conference in full, click here.