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China's top economic planner has said that the country will enhance
employment-first policies and improve policy coordination in the second
half of the year to boost employment. The country will better coordinate its fiscal, monetary, financial,
industrial, regional, and trade policies with employment policies to
ensure a positive interaction between economic growth and employment
expansion, according to a guideline issued by the National Development
and Reform Commission (NDRC). Although the country managed to reverse the downward trend of its
economic growth and secure overall stability of employment in the first
half of the year, the NDRC warned of uncertainties from the world's
pandemic situation as well as economic and trade development, which may
have unexpected impacts on employment. The country vowed timely adjustments of its macro-policy stance in
accordance with changes in the employment situation, according to the
guideline. The government will use proceeds from the special government bonds
for COVID-19 control and special local government bonds to prioritize
the support for projects that address inadequacies, and to stimulate
employment. It will also foster the development of elderly and child
care services, healthcare, and housekeeping industries, the NDRC said.
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