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.
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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
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