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Economy

Sound recovery bolsters employment in China: minister

(Xinhua)
Updated: 2010-04-22 11:28

WASHINGTON - China's early recovery from the global financial crisis has helped in maintaining relatively stable employment in the country, a senior Chinese official said Wednesday.

"China's employment policies and measures to tackle the financial crisis are recognized and appreciated by other countries," Human Resources and Social Security Minister Yin Weimin said.

The official said China's employment situation had also been impacted by the global financial crisis.

"But thanks to a series of measures, including the stimulus package, job training programs, employment aid for special groups, and a better public service, China's employment situation keeps relatively stable," he added.

China's unemployment rate in urban areas has returned to pre-crisis levels, standing at 4.2 percent in the first three months of the year, said the official, who believed fast and robust economic growth is vital for improving employment.

According to the World Economic Outlook report released by the International Monetary Fund on Wednesday, China's economy is expected to grow by 10 percent in 2010, and 9.9 percent in 2011.

The global financial crisis and economic recession have cost millions of jobs worldwide. In their efforts to shake off the worst recession since the 1930s, many countries have set job creation as a top priority.

Labor ministers from the world's 20 most important economies met in Washington this week for the first time in an attempt to coordinate employment and job creation policies and to make joint recommendations for G20 leaders to discuss later this year.

"I think the meeting is a success," said the Chinese minister who attended the Washington meeting, "It's a good platform for ministers from G20 to share their policies and ideas about job creation. It is helpful to all countries."