China Repeats Financial Support for Small Businesses and Employment

China's State Council on Monday urged officials to use funds including those unlocked through the July RRR cut to increase financial support to small businesses and invest in labour-intensive industries to boost employment. The authorities must increase cross-cycle measures to ensure reasonable growth amid new outbreaks, volatile commodities and natural disasters, Premier Li Keqiang's government said following an executive meeting. Officials also must ensure market supply and stabilize prices of raw materials including selling reserves, and investments and consumption should be boosted through selling special-purpose local government bonds, the government said.