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Finance

China urges support for those in need as economy slows

By Asia Tech Times
Last updated: 22/03/2025
3 Min Read
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Chinese officials are urging local governments to provide more financial relief ahead of next month’s holidays as the country’s economy slows.

They said the one-time stipend should be given to those in need because people are in need and the country’s economic difficulties are expected to last until 2025.

It is difficult for China’s economy to regain momentum this year, mainly due to the protracted real estate crisis and weak domestic demand. Ensuring employment, especially for fresh university graduates, is also a policy priority, authorities said.

See also: Neighbors worry about China building giant new dam in Tibet

The Ministry of Civil Affairs said in a statement released on Saturday that places with financial resources will be encouraged to release disaster relief funds or increase one-time subsidies to people in need before New Year’s Day and the Lunar New Year in late January.

In late September, ahead of major holidays, the department issued a similar one-time appeal assist Benefiting the poor, orphans and people in need.

According to the ministry’s statement over the weekend, assistance must be stepped up for certain groups, such as unemployed people who have not paid unemployment insurance and people without a source of income.

Unemployed college graduates, sick people and families facing financial hardship should also receive help.

According to official data, China’s unemployment insurance system paid out 160.07 billion yuan ($21.93 billion) from January to November, an annual increase of 25.5%.

  • Reuters Additional editing by Jim Pollard

See also:

China plans to issue record $411 billion in bonds in 2025: sources

ASML CEO: China’s chip manufacturing technology is 10-15 years behind the West

China’s industrial profits fall 7% on weak demand in November

Major U.S. banks cut China growth forecasts amid industrial slowdown

Profits of U.S. and EU companies and confidence in China continue to decline

China ‘more vulnerable to Trump tariffs’ after slowdown

Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He served as a senior editor at The Nation for more than 17 years.

Contents
See also: Neighbors worry about China building giant new dam in TibetSee also:China plans to issue record $411 billion in bonds in 2025: sourcesASML CEO: China’s chip manufacturing technology is 10-15 years behind the WestChina’s industrial profits fall 7% on weak demand in NovemberMajor U.S. banks cut China growth forecasts amid industrial slowdownProfits of U.S. and EU companies and confidence in China continue to declineChina ‘more vulnerable to Trump tariffs’ after slowdownJim PollardLeave a Comment
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