What fiscal and financial measures will prioritise job retention?

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Fiscal and Financial Measures to Prioritise Job Retention

China's government will prioritise employment through a combination of fiscal and financial policies designed to bolster companies' capacity to maintain and expand their workforces. These measures aim to enhance support for businesses, thereby safeguarding jobs and livelihoods.
Enhanced Support for Businesses

The government intends to provide increased support to companies to help them retain and create employment opportunities. This initiative underscores the administration's focus on employment as a key objective, recognising the role of businesses in achieving this goal.
Financial Policy Adjustments

Financial institutions will be encouraged to reduce lending rates and fees, while also promoting mid- and long-term lending specifically for the manufacturing sector. Furthermore, there is a stated aim to increase lending to small businesses from large commercial banks by over 40 per cent this year, building on previous growth where China's five major banks reported over 30 per cent lending growth to small businesses in 2021.
Financial Stability Guarantee Fund

A financial stability guarantee fund is to be established as a measure to protect against systemic risks. This fund is part of the broader strategy to ensure a stable economic environment, which is conducive to sustained employment.

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What fiscal and financial measures will prioritise job retention?

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