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China makes new moves to stabilise employment

China's top policy makers are making new efforts to stabilise employment in the world's second largest economy amid an economic slowdown and ongoing trade tensions.

Companies that do not lay off staff or only scale down their workforce mildly will receive refund up to 50 per cent of the social insurance payment they made on behalf of their employees in the previous year, according to a document released after an executive meeting of the State Council chaired by the Premier Li Keqiang on Wednesday.

 

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