Beijing, October 28:

The Chinese government will support labour-intensive enterprises, small and mid-size businesses, private companies and the service sector to create more jobs in the face of global financial meltdown.

“The ongoing international financial crisis has affected the employment situation in China, particularly many export-oriented enterprises,” said Ministry of Human Resources and Social Security (MOHRSS) spokesman Yin Chengji here today.

Narrowing overseas demand in the wake of global economic slowdown could have a negative impact on the growth prospects of export-dependent China, creating largescale unemployment.

“Our economy is highly reliant on overseas demand. Slacking exports resulted from the global economic slowdown would have a negative impact on the economy,” governor of the country’s central bank Zhou Xiaochuan yesterday told the National People’s Congress. The country created 9.36 million jobs in the first three quarters, and helped another 4.09 million laid-off workers find re-employment, Yin told a press conference.

By the end of September, China had a registered unemployment rate of four percent, with about 8.3 million without jobs.

Unemployment rate was the same as what the country had at the end of last year. To bail out businesses in distress, the government decided to increase credits and loans to them and offer them more tariff refunds for exports, he said.