China allocates 66.7 billion yuan for employment support in 2024

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.

"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.

China allocates 66.7 billion yuan for employment support in 2024

China allocates 66.7 billion yuan for employment support in 2024

China allocates 66.7 billion yuan for employment support in 2024

China allocates 66.7 billion yuan for employment support in 2024

China allocates 66.7 billion yuan for employment support in 2024

China's top diplomat Wang Yi met with a high-level Brazilian delegation led by Rui Costa, chief of staff of the presidency, in Beijing on Thursday, calling for deepening practical cooperation between the two countries.

Wang, a member of the Political Bureau of the Communist Party of China Central Committee and director of the Office of the Central Commission for Foreign Affairs, noted that China and Brazil are the largest developing countries in the eastern and western hemispheres, respectively, with highly complementary economies, aligned development strategies and shared governance concepts. Under the new circumstances, the all-round strategic cooperation between China and Brazil not only serves the long-term and fundamental interests of the two peoples, but also sets a good example for the solidarity and coordination of countries in the Global South, Wang said. China attaches great importance to its relations with Brazil and is full of confidence in Brazil's development prospects, Wang said, adding that China is ready to work with Brazil to take the opportunity of the 50th anniversary of diplomatic ties to intensify high-level exchanges, deepen practical cooperation, enhance strategic collaboration and jointly build a community with a shared future.

Costa and the other delegation members said Brazil is willing to push for more tangible results in cooperation in various fields, such as economy, trade, finance, infrastructure, green transformation, re-industrialization, and scientific and technological innovation.

The Brazilian side is ready to enhance the strategic relationship of the two countries and push the bilateral comprehensive strategic partnership to a new level, said the delegation.

The two sides also had an in-depth exchange of views on improving global governance and agreed to safeguard the common interests of developing countries, international fairness and justice, and to become an important stabilizing force in today's turbulent world.

China's top diplomat calls for deepening China-Brazil cooperation