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.
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China has urged the EU to join forces in resisting U.S. protectionism and safeguarding global trade, as Vice Premier He Lifeng met EU trade chief Maros Sefcovic in Beijing. While both sides seek stronger ties, the EU stresses the need to rebalance trade relations amid ongoing market access concerns.
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Bangladesh’s main opposition party, the Bangladesh Nationalist Party (BNP), has warned of public unrest if elections are not held by December, following remarks from interim leader Muhammad Yunus suggesting a possible delay until 2026.
Over 300,000 Canadians were left without power on Sunday as a severe ice storm battered parts of Ontario, according to electricity provider Hydro One. The storm brought freezing rain and ice pellets over the weekend, with power outages continuing into Monday morning in some regions.
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Royal Australian Air Force (RAAF) pilots, monitoring a Chinese navy warship as it navigated Australian waters, were alerted to a live-fire exercise via a civilian radio broadcast, defense officials revealed on Tuesday.
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Canada has suspended Tesla rebate payments and barred the automaker from future EV incentives due to U.S. tariffs. Transport Minister Chrystia Freeland said the freeze will remain until claims are individually reviewed.
U.S. President Donald Trump announced on Sunday that his upcoming reciprocal tariffs will apply to all nations, rather than just targeting the 10 to 15 countries with the largest trade imbalances. Trump plans to unveil the tariff package on Wednesday, calling it “Liberation Day.”
U.S. President Donald Trump said on Sunday that Ukrainian President Volodymyr Zelenskyy is attempting to back out of a critical minerals deal, warning that such a move would bring serious repercussions.
Bangladesh’s main opposition party, the Bangladesh Nationalist Party (BNP), has warned of public unrest if elections are not held by December, following remarks from interim leader Muhammad Yunus suggesting a possible delay until 2026.
Over 300,000 Canadians were left without power on Sunday as a severe ice storm battered parts of Ontario, according to electricity provider Hydro One. The storm brought freezing rain and ice pellets over the weekend, with power outages continuing into Monday morning in some regions.
French far-right leader Marine Le Pen is awaiting a critical court ruling on Monday that could determine her political future. Le Pen, head of the National Rally (RN), faces accusations of embezzling over 3 million euros ($3.3 million) of European Parliament funds to pay France-based staff.
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