MnetTV          Digital Library

Search Manufacturing.net Search Manufacturing.net
Today in Manufacturing.Net

Resources
Association Links
Bookstore
Career Center
Digital Library
Events Calendar
What’s New
White Papers


News
Featured Articles
Financial News
Global Manufacturing
Government News
Mergers & Acquisitions
News Archive
People in the News

MNet Career Center

Market Sectors
Aerospace
Automotive/Transportation
Chemical/Petroleum
Food/Beverage
Medical
Metals
Pharmaceuticals/Biotech
Plastics/Rubber
Other Manufacturing

Industry Focus
Design & Development
Electrical & Electronics
Energy
Environmental
Facilities & Operations
Labor Relations
Manufacturing Technology
Materials
Quality
Safety
Supply Chain

Amazon

About Us
Editorial Contacts
Advertise with Us

Our Partner Sites
Chem.Info
ECN
Food Manufacturing
IMPO (Industrial Maintenance & Plant Operation)
Medical Design Technology
Pharmaceutical Processing
Product Design & Development
R & D Magazine
Wireless Design & Development
Wireless Week



Mnet house ad 120x240



China Unveils Incentives To Ease Unemployment

Manufacturing.Net - October 27, 2008

Printer Friendly     E-mail to a Colleague


BEIJING (Kyodo) -- The Chinese government said Monday that it will give tax breaks and grants to labor-intensive businesses to help secure and create jobs as China feels the effects of a global economic slowdown.

Ministry of Human Resources spokesman Yin Chengji told a press conference the government will also offer subsidies to exporters to help further boost the country's economy.

Unemployment in China at the end of last month stood at 4 percent, with about 8.3 million out of work.

State media have reported heavy job losses among some export businesses in recent weeks as the global economic slowdown begins to bite, particularly among manufacturing companies in the southern province of Guangdong.

Yin said, "The international financial crisis triggered by the U.S. subprime mortgage crisis has affected the employment situation in China, particularly many export-oriented businesses, so the government has decided to take a specific range of measures."

The government announced earlier this month that economic growth in China dropped to 9 percent in the third quarter of the year, compared with 10.1 percent in the second and 10.6 percent in the first.

It was the first time China has recorded less than double-digit growth in a financial quarter in three years.

Chinese Premier Wen Jiabao told the Asia-Europe Meeting in Beijing over the weekend that the fundamentals of China's economy are sound, but the threat of recession in other areas of the world will have an impact on China's economic prospects.

"We need confidence to deal with this once-in-a-century, huge financial risk," he said. "We need to strengthen cooperation among countries."


Printer Friendly     E-mail to a Colleague



Talkback!
Manufacturing.net is pleased to provide you an opportunity to share your opinions on any of the news stories or articles on our site. We reserve the right to edit/remove comments.
Viewing 0 User Comments
Add a Comment


Add a Comment...

E-Mail:
The content of this field is kept private and will not be shown publicly.

Subject:
Comment:

 

     



   





Flatbed trucking, flatbed shipping, flatbed carriers



Automotive/Transportation

Toyota Recalls 437,000 Hybrids

House Toyota Hearing Postponed

State Farm Warned Of Toyota Problem In 2007


Metals

Rio Tinto Sells Ghana Bauxite Stake To Chinese Firm

Cadmium Found In Adult Jewelry

Alcoa Realigns Business Units, Adds COOs

Food/Beverage

Overseas Sales Help Coca-Cola 4Q Profit

Green Mountain Extends Diedrich Coffee Offer

China Finds Tons More Tainted Milk Powder
News Video