China to speed up tax and fee cuts for firms to support jobs

• The government will return more unemployment insurance premiums to job-saving firms and subsidise small firms to hire college graduates with employment contracts longer than a year.

BEIJING: China will speed up phased, targeted tax and fee cuts for firms to support employment amid the coronavirus outbreak, the cabinet said on Friday.

The government will return more unemployment insurance premiums to job-saving firms and subsidise small firms to hire college graduates with employment contracts longer than a year, the cabinet said in a statement.