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China unveils new incentives to boost employment

China’s cabinet unveiled new measures on Friday to boost employment, offering more flexible tax breaks to companies to hire the jobless, preferential loans and incentives for farmers and new graduates.

Facing slowing economic growth, Chinese authorities have said that avoiding mass unemployment is a crucial policy priority, although the real jobless rate is widely believed to be much higher than official figures.

The State Council, or cabinet, said that companies will get tax breaks for employing people who have been out of work for more than six months, rather than more than one year as was previously the case.

(Source: Jakarta Globe )