CHINA-ECONOMY: CHINA'S DECIDES ON SUPPORT MEASURES TO HELP COLLEGE GRADUATES AND COMPANIES INCLUDING FINANCIAL SUPPORT
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Xinhua stated (April 14) that an executive meeting of China's State Council had decided that China will take "solid steps" to implement supportive measures for enterprises to help them through challenges, and boost employment for college graduates. The meeting directed that solid implementation of the policies should be guaranteed, including a series of tax cuts which would ease the burden for firms by 1.6 trillion yuan (about US$ 227.25 billion). In terms of financial support, China has offered 3.55 trillion yuan of low-cost capital to financial institutions via reserve requirement ratio cuts, re-lending and re-discount quotas.
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