Pro-active fiscal policies added millions of jobs in six years

China's pro-active fiscal policies have added a yearly job increase of 1.2 - 1.6 million in the last 6 years, amounting to a total of 7 - 10 million, according to Xiao Jie, Vice-Minister of the Ministry of Finance.

According to Xiao Jie, during recent years China endeavored to improve the basic system by which the government boosts employment. During the process fiscal departments at various levels played an important role. On the one hand total employment kept a sustainable growth as the pro-active fiscal policies were implemented. On the other, system of basic living allowances for workers laid off from state-owned enterprises and reemployment system were established. During the six years aggregate SOE laid offs were 28.18 million, among which 24 million have enjoyed basic living allowances. Fiscal department at various levels spent a total of about 103.5 billion yuan, of which the central government accounted for about 69.6 billion yuan. Xiao Jie said in the future China would continue to increase fiscal expenditure on promoting employment.

By People's Daily Online