Chinese Premier Li Keqiang has warned of a “complicated and serious” employment situation as the country imposes sweeping shutdowns to contain Covid outbreaks.

Li called on all government departments and regions to prioritize measures to help businesses retain jobs and overcome current difficulties, according to a statement released on Saturday evening that cited the prime minister’s comments during a teleconference. National Employment.



“Stabilising employment is important for people’s livelihoods, it’s also a key support for the economy to operate within a reasonable range,” Li said, urging companies to resume production with measures. of fight against Covid in place.

Top Chinese leaders last week doubled down on the country’s Covid-Zero strategy, warning against any attempt to question the lockdown-dependent approach even as economic activity contracted sharply in April amid plant closures and supply chain disruptions.

China reported 4,384 new cases of Covid-19 for May 7. Shanghai, which has been in some form of lockdown for weeks, recorded 3,975 new infections, up from more than 4,000 daily infections earlier. The financial center announced on Saturday that it would postpone college and high school entrance exams until July, while some of the city’s biggest manufacturers said they were trying to restart factories.

Beijing has registered 62 new cases as authorities in the capital scramble to contain a wider spread. Its eastern district of Chaoyang, home to embassies and offices of multinationals including Apple Inc. and Alibaba Group Holding Ltd., ordered the closure of some businesses providing non-essential services such as gyms and cinemas to minimize infections.

Li reiterated at the meeting that China will also promote the healthy development of internet platform companies to support employment.

Chen Yulu, vice governor of the People’s Bank of China, said the central bank would put more emphasis on stabilizing growth and increasing support for the real economy. In an interview with Xinhua published on Saturday, Chen also said authorities would help smaller banks increase their lending capacity through the sale of perpetual bonds.

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

Previous

What prompted the Apple factory workers to riot?

Next

The former Pretty Polly factory will become homes as part of a new plan for Sutton-in-Ashfield, which is 'the place to be'

Check Also