Off the wire
• Trade through China-Nepal port grows in Q1  • China's central bank injects cash into money market  • Ukrainian president eyes closer cooperation with China  • Feature: Zambia battling to save endangered Mukula tree  • 2nd LD Writethru-Economic Watch: Falling jobless rate delivers positive message on Chinese economy  • Indonesia's U19 soccer team to vie in Taulon tournament in France  • EU, UN launch 3-year anti-terrorism program in Pakistan  • Starting lineup of Guangzhou Evergrade vs Eastern SC at AFC Champions League  • Indonesia's bonds auction oversubscribed  • Spanish matchday 34 gets nervy at top and bottom of league table  
You are here: 　 Home

China to relocate 500,000 workers for capacity cut

Xinhua, April 25, 2017 Adjust font size:

China plans to assist 500,000 workers made redundant during its capacity cuts in steel and coal sectors this year.

Subsidies will go to employers that re-employ laid-off staff in other posts inside the company, and the government will offer free retraining, according to spokesperson Lu Aihong of the Ministry of Human Resources and Social Security, Tuesday.

In 2016, the central government spent over 30 billion yuan (4.4 billion U.S. dollars) in providing aid to 726,000 employees affected by the downsizing of the two heavy industries.

The work has to continue as another 50 million tonnes of steel production capacity and at least 150 million tonnes of coal capacity will be cut this year.

According to preliminary forecasts, the coal and steel sectors will see combined laid-offs of around 1.8 million. Endi