Stabilizing employment remains a top priority as the State Council released a series of employment-boosting policies on Wednesday, including rebates and entrepreneurial loan guarantees, 21st Century Business Herald reported.
Enterprises which do not lay off or lay off fewer employees can get a 50% rebate of the unemployment insurance they paid last year, according to the new rules.
The change will be effective from January 1, 2019, for a year, targeting companies that face temporary difficulties in operations, but remain to offer the same amount of job opportunities.
Meanwhile, eligible entrepreneurs may apply for an entrepreneurial guarantee loan of up to 150,000 yuan.
For small and micro enterprises in which 25% of the new employees are entrepreneurial guarantee loan holders, these companies may apply for no more than three million yuan in entrepreneurial guarantee loans.