Guiyang launches new mechanism for stabilizing jobs

Guiyang, capital of Southwest China's Guizhou province, launched a new mechanism on Oct 29 to process funds to stabilize jobs and ensure that they can quickly be returned to enterprises.

Priority will be given to returning funds to stabilize jobs in industries such as catering, retail, tourism, and transportation.

The deferred payment of social insurance premiums for five struggling industries and 17 expanded industries whose industrial and supply chains have been greatly affected by the COVID-19 pandemic will be advanced.

As of the end of September, Guiyang had offered deferred payments to 1,410 enterprises, with a total of 232 million yuan ($31.76 million) in deferred payment of social insurance premiums.

From January to September this year, Guiyang issued a total of 331 million yuan in unemployment insurance.