China's central government budget for re-employment stands at
10.9 billion yuan (US$1.32 billion), up 2.6 billion yuan, or 31
percent, year-on-year, officials with the Ministry of Finance said
Friday.
The central government also increased budget funding for employment
training programs for farmers to 400 million yuan (nearly US$50
million), compared with 150 million yuan (about US$20 million),
said an official with the ministry.
Following rapid growth in budget funding for re-employment and
social securities, this year's increased funding arrangements for
re-employment programs for urban and rural residents show the
government's commitment to a more harmonious society, said the
official.
The Ministry of Finance will continue its effort to improve
social security system in urban China, and to provide basic living
allowance for those laid off by state-owned firms, he said.
The central government increased its allowance for
re-employment by 2.225 billion yuan (US$271 million), or 54.6
percent, in 2004, while local governments also made similar
arrangements, according to the ministry.
Meanwhile, the ministry earmarked 14.4 billion yuan (US$1.75
billion) in living allowance funding for jobless workers, and
delivered 52.4 billion yuan (US$6.39 billion) in transferred
payment for pension fund, which helped ensure retirees get their
pension in time and in full.
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(Xinhua News Agency May 28, 2005)