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China urges local officials to provide financial relief to those in need ahead of major holidays, as economic challenges, including jobless graduates and weak demand, persist into 2025.
China's economy has struggled to gather steam this year, mainly due to a protracted property crisis and weak domestic demand. Securing employment, particularly for fresh college graduates, is also a policy priority, authorities say.
Ahead of New Year's Day and the Lunar New Year in late January, local governments with financial capacity are encouraged to distribute relief funds or step up one-time allowances to those in need, the Ministry of Civil Affairs said in a statement published on Saturday.
The ministry issued a similar call in late September ahead of a major holiday for one-off assistance to the extremely poor, orphans and those in difficulty.
According to the ministry's weekend statement, assistance to certain groups, such as unemployed people who have not been paid unemployment insurance and those without a source of income, must be strengthened.
Jobless college graduates, the ill and families facing financial difficulties should also receive help, it added.
According to official data, China's unemployment insurance system paid out 160.07 billion yuan ($21.93 billion) from January to November, up 25.5% year on year.
The ministry also urged local governments to better monitor low-income groups.
The World Bank, in a report last Thursday, said the pace of China's poverty reduction slowed in 2024 and is expected to decelerate further in 2025 and 2026, due largely to slower economic growth projected in years to come.
Tepid household consumption, the main drag on the economy, is the key to next year's growth recovery, analysts say. Policymakers have vowed to revive household demand.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
YouTube TV and Fox have reached a distribution agreement that will keep Fox News, Fox Sports and other Fox channels available to subscribers, the companies confirmed on Thursday.
The S&P 500 and Dow Jones Industrial Average closed at record highs on Thursday (28 August), after Nvidia’s quarterly report fell short of investors’ lofty expectations but confirmed that demand for artificial intelligence (AI) infrastructure remains strong.
Malaysia Prime Minister Anwar Ibrahim said he intends to convene a summit of the Regional Comprehensive Economic Partnership in October, local media reported on Wednesday.
The Organisation for Economic Co-operation and Development (OECD) reported on Tuesday that G20 countries’ international goods trade rose slightly in the second quarter of 2025, mainly because imports into the United States fell sharply after rising in the first quarter.
The S&P 500 closed lower on Monday (25 August) as investors turned their attention to Artificial Intelligence (AI) chipmaker Nvidia’s upcoming quarterly results, following Friday’s rally that saw the Dow Jones Industrial Average close at a record high.
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