NEWS： Economic downward pressure increases employment pressure
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China is making every effort to cope with the pressure of economic downturn in an all-round way. Although macroeconomic data for 2018, including industrial value added, are due to be released next Monday, the downward trend has shown that the downward pressure of China's economy is increasing, the employment situation is quite strict, and structural unemployment will be more obvious.
Perhaps in order to reflect the expected management in macro, China held an intensive conference this week to introduce the implementation of economic work meetings by key macro departments. Following the joint press conference of the Development and Reform Commission, the Central Bank and the Ministry of Finance on Tuesday, the Ministry of Industry and Information Technology, the Ministry of Human Resources and Social Affairs and the Ministry of Commerce held a joint press conference on Wednesday to elaborate on the measures to be adopted by the functional departments in the fields of manufacturing, stabilizing employment and expanding domestic demand in order to boost confidence in China's economy.
"Since the second half of last year, especially after the third quarter, industrial growth has slowed down for several consecutive months under the combined effects of global economic growth slowdown, domestic active restructuring, risk prevention and other factors. There are some fluctuations. This is also the fact that the anxiety of the business community has increased." Xin Guobin, Vice Minister of Industry and Information Technology, said.
However, he pointed out that the overall operation of the industrial economy remained within a reasonable range, and the actual operation results were better than expected. When setting the growth target of industrial added value above the full scale in 2018, the expected target was 6%.
"From January to November, China's industrial added value increased by 6.3%. Even if it maintained a low growth rate in December, we still have a guarantee to achieve the target for the whole year." Xin Guobin said.
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