April 19, 2017 / 9:54 AM / 3 months ago

China sees higher risk of mass unemployment, pledges more support

1 Min Read

BEIJING, April 19 (Reuters) - China's cabinet said on Wednesday that risks of mass unemployment in some regions and sectors have increased and pledged more fiscal and monetary policy support to address the potential rise in the jobless rate.

It said in a guideline posted on its website that China must place employment as a top policy priority.

The Chinese government will appropriately reallocate workers from sectors affected by capacity cuts such as steel, coal, and coal-fired power. (Reporting by Kevin Yao and Yawen Chen; Editing by Jacqueline Wong)

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