Xinjiang hands out subsidies to stabilize employment

Northwest China's Xinjiang Uygur Autonomous Region has distributed 430 million yuan (about 60.6 million U.S. dollars) in subsidies to help stabilize employment.

Authorities in Xinjiang recently have taken a slew of measures to support businesses to stabilize employment at a time when the COVID-19 epidemic hit the economy and corporate performance.

The subsidies, in the form of unemployment insurance rebates, had benefited over 1.46 million employees from 72,000 companies in Xinjiang by April, according to the department of human resources and social security of Xinjiang.

Of the total, 320 million yuan went to 71,000 micro, small and medium-sized enterprises, benefiting 1.21 million employees.

Xinjiang has increased the return of unemployment insurance premiums to keep employment stable. For insured enterprises that lay off no or fewer employees, 50 percent of the premiums paid last year are returned.

Micro, small and medium-sized insured companies with a layoff rate of no more than 5.5 percent are eligible for the rebates. For insured companies with fewer than 30 employees, the layoff rate criterion is broadened to 20 percent.