China’s fiscal and monetary policies should prioritize stabilising employment using tax rebates, deferred payments of social security contributions and a reduction of financing costs, Yicai.com reported citing the State Council’s executive meeting late on Wednesday. The policy intensity should be no less than that in 2020 to prevent unemployment risks, the newspaper said citing Zhang Chenggang, professor at Capital University of Economics and Business. There is a record 10.76 million people coming into the job market this year. Small and medium-sized enterprises which make the largest contribution to employment, are under stress from the pandemic, the newspaper said citing Yao Kai, professor at Fudan University.
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