China offers social security subsidies, tax breaks to get companies to hire more graduates
China offers social security subsidies, tax breaks to get companies to hire more graduates

China offers social security subsidies, tax breaks to get companies to hire more graduates

(Yicai Global) May 13 – As a record number of college students prepare to graduate in China this summer, the country’s cabinet has said it will help smaller companies hire more graduates by subsidizing social security payments, providing tax cuts and more. preferences. policies.

Micro, small and medium-sized enterprises that hire graduates and sign working conditions of over a year with them will qualify for employer benefits, the minister said in a statement on its website. Those who meet a certain quota of new graduate jobs will also be eligible for bailouts and discounts on technology upgrade loans.

About 10.7 million college students are preparing to graduate this year, the first time the number has reached over 10 million, according to the Ministry of Education.

The government will help graduates start their own businesses by providing them with one-time entrepreneurial grants, loans, rebates and tax breaks. And those graduates who remain unemployed within two years of graduating and who have managed to find part-time or temporary positions can apply for social security subsidies.

The government is also steadily promoting the healthy development of the platform economy, increasing employment and stepping up employment with state-owned companies, it says.

Editor: Kim Taylor

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