China’s State planner, the National Development and Reform Commission (NDRC) warned at a regular briefing in Beijing, trade frictions with the US created uncertainty in the labor market, Reuters reports.
Key Highlights:
Ha Zengyou, a senior official at the employment department of NDRC, noted: “The escalating Sino-U.S. trade frictions have brought uncertainties to our country’s economic development and especially to employment stability.”
Ha added the most important thing in appropriately resolving the impact of the trade friction is to guard China’s employment bottom-line. “As a country of 1.4 billion people, we absolutely cannot allow unemployment risks.”
The state planner said it will step up efforts in luring migrant workers in cities back to rural areas to start their own businesses. This would require state policy banks to resolve “funding difficulties”.
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