October 24, 2018 / 3:00 PM / 2 months ago

China will increase support to stablise jobs as its priority

HONG KONG, Oct 24 (Reuters) - China will step up support to stablise jobs as one of its macro economic priorities, premier Li Keqiang said on Wednesday, as part of wider efforts to cope with challenges facing the economy.

The government aims to roll out more favourable policies to ensure the stable and healthy development of the economy, Li said in a worker’s union conference.

Despite increased pressure on the economy, Li said the government would refrain from implementing massive credit stimulus, instead the country will continue to deepen reforms and promote innovation.

Top government officials have promised in recent days to roll out more policies to support the private sector, which accounts for the majority of all urban jobs. Economic growth slowed to 6.5 percent in the third quarter, the least since the first quarter of 2009. (Reporting by Meg Shen; Editing by Alison Williams)

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