China to roll out measures to keep employment, economy stable: official

China will roll out measures to keep its employment and economic performance stable and promote high-quality development, Zhao Chenxin, deputy head of the National Development and Reform Commission, told a press conference in Beijing on Monday.

The measures cover five aspects, he said.

"In terms of supporting employment, several specific measures will be adopted to encourage enterprises to actively stabilize employment, intensify vocational skills training, expand support through work-relief programs, and strengthen public employment services," Zhao said.

"In terms of stabilizing the development of foreign trade, measures such as tailoring policies for each industry and enterprise to increase support, helping export enterprises avoid risks, expanding the export of service products, and encouraging foreign-funded enterprises to reinvest in China will be implemented," he said.

"In terms of promoting consumption, China will take steps to expand service consumption, strengthen care for the seniors with physical impairment, boost auto consumption, and establish a skill-oriented salary distribution system," Zhao said.

"In terms of actively expanding effective investment, the measures to be taken will focus on improving consumption infrastructure, vigorously boosting the enthusiasm of private investment, and establishing new policy-based financial tools," he said.

"In terms of creating a favorable environment for stable development, China will take actions to continuously stabilize and invigorate the capital market, continuously consolidate the stability of the real estate market, and increase financial support for the real economy," the official said.

Being specific and highly operable, all the above-mentioned policies are aimed for enhancing the sense of gain for businesses and the general public, and will be introduced when appropriate and necessary, Zhao said.

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 49 pips to 6.8929 against the U.S. dollar Friday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.