BEIJING, July 3 —Companies that employ people aged 16-24 or graduates registered unemployed for two years can now receive a subsidy of 1,500 yuan (RM966) per person, according to a notice from China’s human resources ministry published today.
Previously, only fresh university graduates were eligible for the subsidy, but as unemployment amongst 16-24 year olds remains stubbornly high, at 20.8 per cent in May, the government has expanded the scope of the subsidy to encourage firms to increase their hiring. — Reuters
