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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China announces jobs programs for college grads AP - 2 hours 24 minutes ago BEIJING - China announced a series of measures Wednesday aimed at helping millions of recent college graduates find work amid the country's grim employment outlook and the deepening impact of the global financial crisis. Chinese officials have warned in recent months that the slowing economy will severely affect employment prospects, with job seekers in the cities already outnumbering available jobs by two-to-one. They are also concerned that widespread unemployment could spark protests threatening social stability and one-party communist rule. One measure unveiled Wednesday at a meeting between Premier Wen Jiabao and the State Council, China's Cabinet, will offer subsidies or social insurance to graduates who work in rural villages, while those who take jobs in remote areas or with the military will receive state assistance to repay student loans. The government will also offer incentives to companies that hire recent graduates, who will in turn be encouraged to start businesses with favorable tax and loan policies, the council said in a statement posted on a government Web site. The council said that finding work for new college graduates should be one of the country's top priorities as it deals with "very severe employment circumstances." The council also called on the country's universities to improve their job placement programs. There were nearly 5.6 million university graduates in China in 2008, a figure expected to rise above 6 million this year, according to the official Xinhua News Agency. The global financial meltdown has dealt a body blow to China's vital export industries, which account for 40 percent of the economy, causing thousands of factories making toys, shoes and cheap electronics to fold. China's economic growth is expected to fall to about 9 percent this year, down from 11.9 percent in 2007. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy US, European stocks dragged down by weak jobs dataAP - 33 minutes ago Austrian econ min says no gas rationing before MonReuters - 1 hour 28 minutes ago Bank of America sells shares in Chinese bankAP - 1 hour 32 minutes ago Bank of America sells China bank stakeReuters - 1 hour 41 minutes ago Related Articles: Business US-BUSINESS SummaryReuters - 21 minutes ago Intel warns again on fourth-quarter revenueReuters - 21 minutes ago Wall Street drops on jobs gloom and Intel warningReuters - 24 minutes ago US STOCKS-Wall St drops on jobs gloom, Intel warningReuters - 26 minutes ago Turkish assets slide on gloomy European dataReuters - 26 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Shares skyrocket as Porsche takes over Volkswagen Marks & Spencer says will axe 1,230 jobs and close 27 stores Toyota to shut production plants for 11 days Steve Jobs has "hormone imbalance," to stay on as Apple CEO Pink iguanas discovered on Galapagos Islands View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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