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China to allocate 100 billion yuan for job losses from capacity cuts [Copy link] 中文

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Post time 2016-2-25 20:06:19 |Display all floors
China will establish a 100 billion yuan fund to assist those who are made redundant as a result of industrial restructuring. [Photo/China Daily]
BEIJING - China will establish a 100 billion yuan ($15.3 billion) fund to assist those who are made redundant as a result of industrial restructuring, an official said Thursday.
Allocated over two years, the fund will cover training and job seeking, said  ...

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Post time 2016-2-25 20:06:20 |Display all floors
Here I would again advocate Changsa Broad Group Chairman Zhang's idea of building more vertical cities in China as his proposed Sky City, which uses mainly steel for its structure (for its light weight). This will not only help the steel industry, but at the same time reduces pollution, traffic congestion and improves environment.

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Post time 2016-2-25 20:55:12 |Display all floors
It is a laudable effort by the Government.

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