China creates 2.99 mln new urban jobs in Q1

China created 2.99 million new urban jobs in the first quarter of this year, demonstrating a stable employment situation, according to data from the Ministry of Human Resources and Social Security on Tuesday.

Over the same period, the average surveyed urban unemployment rate was 5.3 percent, the ministry said.

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China creates 2.99 mln new urban jobs in Q1

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China creates 2.99 mln new urban jobs in Q1

From January to March, China disbursed 3.1 billion yuan (about 452 million U.S. dollars) in unemployment insurance premium refunds for enterprises, 500 million yuan in one-time job expansion subsidies, and 800 million yuan in skill upgrading subsidies.

As of the end of March, the number of participants in China's basic old-age pension, unemployment insurance, and work-related injury insurance (including occupational injury insurance) reached 1.073 billion, 247 million, and 319 million, respectively, representing year-on-year increases of 1.87 million, 2.8 million, and 21.52 million, according to the ministry.

Hong Kong's stock market ended lower Tuesday with the benchmark Hang Seng Index down 0.95 percent to close at 25,679.78 points.

The Hang Seng China Enterprises Index fell 1.27 percent to end at 8,644.81 points, and the Hang Seng Tech Index fell 2.28 percent to end at 4,827.19 points.