China looks to spur job prospects for record number of new graduates

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BEIJING - China will offer subsidies, tax breaks and easier loans to boost prospects for college graduates, the cabinet said on Friday , as a record number are set to enter the workforce this year, a

mid downside risks toOn offer are subsidies for small firms that hire such candidates, as well as tax breaks, easier loan terms and rent-free premises for graduates who launch start-ups, the general office of the State Council, or cabinet, said in a notice.

China wants to promote healthy development of the online platform economy, it added. This is a big source of jobs, crucial at a time when a record 10.76 million are set to finish college this year. The world's second largest economy is tackling the Omicron variant with a"dynamic clearance" policy that has brought full or partial lockdowns in dozens of cities, includingSmall businesses in particular, suffered in the accompanying disruptions in services and logistics.

 

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