China allocates 66.7 billion yuan for employment support in 2024

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China allocates 66.7 billion yuan for employment support in 2024

2024-10-12 15:08 Last Updated At：10-13 02:27

China has allocated 66.7 billion yuan (about 9.4 billion U.S. dollars) this year to support employment as the country steadily enhances its ability to secure livelihoods.

At a press conference in Beijing on Saturday, China's Minister of Finance, Lan Fo'an, detailed the central government's fiscal measures to strengthen support for key areas like youth employment and education.

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China allocates 66.7 billion yuan for employment support in 2024

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China allocates 66.7 billion yuan for employment support in 2024

"Since the beginning of this year, the central government has allocated 66.7 billion yuan (about 9.4 billion U.S. dollars) for employment support, helping local areas assist key groups like college graduates and improve vocational training. Besides, from January to September, education spending nationwide has exceeded 3 trillion yuan (about 425 billion U.S. dollars)," said Lan.

The country also faces challenges associated with an aging population. China's population aged 60 and above reached nearly 297 million in 2023, accounting for 21.1 percent of the total.

Lan stressed that the government is committed to enhancing services for seniors, including an increase in basic pension. Already, subsidies for residents' basic medical insurance have been improved.

"Basic pensions for retirees will be increased by 3 percent nationwide, greatly raising the minimum standard for basic pensions for both urban and rural residents. The annual fiscal subsidy for basic public health services will rise to 94 yuan (about 13 U.S. dollars) per person, and the annual subsidy for basic medical insurance for urban and rural residents will increase to 670 yuan (about 95 U.S. dollars) per person," said the minister.

Brazilian president meets Chinese FM on closer ties, cooperation

2025-05-02 00:30 Last Updated At：01:17

Brazilian President Luiz Inacio Lula da Silva met with visiting Chinese Foreign Minister Wang Yi in Brasilia on Wednesday, expressing the willingness to strengthen bilateral ties and expand cooperation.

Lula said that Brazil and China have built strong mutual trust and deepened cooperation across various fields, showing that Brazil's steadfast friendship with China is the right choice and a model for South-South cooperation.

He said that he looks forward to maintaining close high-level exchanges with China, further strengthening economic and trade ties, and expanding the mutually beneficial cooperation in finance, energy and other fields.

China's firm and forceful countermeasures against the "reciprocal tariffs" is admirable, said the Brazilian president, noting that China's just actions have received widespread support while certain country's irresponsible and unilateral practices warrant joint resistance.

Brazil is willing to work with China to advocate free trade, defend international rules, and counter any power overriding international justice, the president added.

Wang, who is also a member of the Political Bureau of the Communist Party of China Central Committee, said that China is willing to work with Brazil to implement the important consensus reached by the two heads of state and push for more outcomes in building a China-Brazil community with a shared future.

China will strengthen its cooperation with BRICS and Global South countries, adhere to multilateralism and safeguard international rules, he said.

On the same day, Wang attended the 15th Meeting of BRICS National Security Advisers and High Representatives on National Security in Brasilia.