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.
The U.S. has imposed new Iran-related sanctions targeting a key financier linked to Supreme Leader Ayatollah Mojtaba Khamenei and 13 other individuals...
Temperatures above 40°C are scorching parts of Central Asia, prompting the World Health Organization to warn that extreme heat is becoming an increas...
As a wildfire swept through the mountains toward rural Andalusian villages near Los Gallardos in southern Spain, residents faced a life-or-death decis...
China's technology sector is producing billion-dollar startups at its fastest pace in nearly five years, with artificial intelligence and robotics driving a new wave of investment that is reshaping the country's innovation economy.
Chinese President Xi Jinping has urged China and North Korea to strengthen cooperation and maintain "strategic resolve" amid what he described as growing global instability. He made the remarks during talks with North Korean Premier Pak Thae-song in Beijing on Friday.
China has approved fast-fashion retailer Shein's long-awaited initial public offering (IPO) in Hong Kong, clearing the way for the company to pursue a stock market listing after previous attempts in the U.S. and London failed.
China has successfully tested an experimental rocket recovery system using a net attached to an offshore platform, marking a major step in its efforts to develop reusable rockets and compete with U.S. space technology.
It has been a punishing week for large parts of China, and forecasters warn the worst may not be over. After Typhoon Maysak left a trail of destruction and at least 23 people dead, Super Typhoon Bavi is now threatening the country's eastern coast.
At least 12 people have been killed in forest fires in Almeria in southern Spain, Andalucía’s emergency agency has said, as firefighters continue efforts to put out the blaze.
The death toll from Venezuela's twin earthquakes has risen to 3,811, according to figures released by National Assembly President Jorge Rodriguez on Wednesday.
U.S. President Donald Trump said Washington has agreed to resume talks with Iran after Tehran requested further negotiations, but declared that last month's ceasefire between the two countries was "over".
The U.S. military said on Wednesday it launched fresh strikes on Iran to keep the Strait of Hormuz open to shipping, triggering Iranian attacks on Kuwait and Bahrain in the latest escalation to derail efforts to end the war.
China has approved fast-fashion retailer Shein's long-awaited initial public offering (IPO) in Hong Kong, clearing the way for the company to pursue a stock market listing after previous attempts in the U.S. and London failed.
European carmakers have urged the European Union to make sure new “Made in EU” rules do not put existing investments in Türkiye and Morocco at risk.
Microsoft is expected to announce a new round of job cuts as early as next week as the technology giant looks to reduce costs, according to reports.
A Swedish court has ordered Alphabet-owned Google to pay about $1.5 billion in antitrust damages to price comparison platform PriceRunner, in one of Europe's largest competition-related awards against a major technology company.
U.S. President Donald Trump earned more than $1bn from cryptocurrency-related business ventures last year, according to his mandatory 2025 financial disclosure.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment