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China encourages private firms to hire layoffs

(Xinhua)
Updated: 2006-04-08 14:27

China is to launch a week-long nationwide program to encourage private businesses to employ laid-off workers of state-owned companies.

Yu Faming, an official with the Ministry of Labor and Social Security, announced this at Friday's press conference. The "2006 Private Businesses Employment Week" will focus on state factory layoffs as well as college graduates and migrant laborers from the countryside, the official said.

In 2006, the government has allocated 185.98 billion yuan (US$23 billion), an increase of 23.6 billion yuan (US$2.95 billion) over last year, to increase employment and improving social security.

A similar program was held last year, which helped over 200,000 people find jobs.