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.
Britain's Observer newspaper reported that Prime Minister Keir Starmer is expected to resign on Monday and outline a timetable for his departure. Howe...
Iran's top joint military command, ​Khatam al-Anbiya Central ‌Headquarters, has said that the Strait of Hormuz is closed to ships again, citing a...
A new film by Swedish filmmaker Mikael Silkeberg traces a cultural journey from Scandinavia to Azerbaijan. The documentary ‘The Homeland in Memoryâ...
Bolivian President Rodrigo Paz has declared a state of emergency, authorising the military to clear roadblocks that have paralysed the economy for 50 ...
ISIS has claimed responsibility for killing two Syrian soldiers in the northern provine of Aleppo, in a statement on the group's Telegram channel. ...
Pakistan has emerged as a key intermediary in U.S.-Iran diplomacy after months of shuttle talks, draft revisions and regional coordination involving Gulf states and China. An interim understanding has been reached, but officials warn the most difficult phase of negotiations still lies ahead.
Abu Dhabi is increasingly looking to China for the technology it needs to build a greener economy, with its energy chief saying the partnership is advancing faster than many people realise.
China has opened its market to cashew nuts from all African countries with diplomatic relations with Beijing, removing a long-standing barrier that had restricted exports from much of the world's largest cashew-producing continent.
More than 100 Chinese companies approved for inclusion on the United States' most powerful trade restriction list have not yet been formally added, as Washington has decided, for now, not to proceed, according to a report by Reuters.
A train driver has been killed and nine people remain in a critical condition in hospital, after two trains collided near Beford in the east of England on Friday. The passenger trains heading to London collided at around 17:15 local time (1615 GMT). Â
Morocco captain and PSG defender Achraf Hakimi will face trial in France after an appeals court ruled there was enough evidence for the case to proceed.
Paraguay kept their World Cup hopes alive with a hard-fought 1-0 victory over Türkiye, but the celebrations were tempered by a costly red card for veteran forward Miguel Almirón.
A magnitude 5.8 earthquake struck southwest of Greece’s island of Crete on Saturday, with no immediate reports of damage.
Israel and Hezbollah have agreed to a ceasefire, a senior U.S. official has said. Hezbollah has released a statement saying Israel must leave southern Lebanon. Israel has said it agrees to the ceasefire, but has said its armed forces won't leave Lebanon and will resume hostilities if attacked.
Media leaders from across Europe gathered in Vienna this week for the annual European Publishing Congress.
Amazon founder Jeff Bezos has said artificial intelligence will ultimately lead to labour shortages rather than widespread unemployment, pushing back against growing fears that AI will replace human workers.
French department store BHV and online fast-fashion retailer Shein have ended their partnership, seven months after the launch of a permanent Shein shop in Paris triggered controversy and widespread criticism.
China’s retail sales fell for the first time in more than three years in May, while urban investment contracted more than expected, signaling further weakness in the world’s second-largest economy.
Macao opened the 17th International Infrastructure Investment and Construction Forum on Thursday, with officials and industry leaders highlighting the role of green and digital technologies in strengthening global infrastructure connectivity.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment