Govt plans more steps to maintain employment and economic stability

China's economy is resilient enough to withstand the novel coronavirus outbreak, and the country will continue to boost efforts to keep employment stable and maintain economic stability, an official from the National Development and Reform Commission said on Monday.

Gao Gao, deputy secretary-general of the NDRC, expressed confidence that the coronavirus epidemic will not alter sound fundamentals of China's long-term economy.

"The Chinese economy enjoys solid resilience, potential and flexibility," Gao said "We have full confidence and tools to prevail over the epidemic, stabilize the economy, keep stable level of employment and foster high-quality development."

"Despite China's effective efforts of epidemic control and prevention, the spread of the virus across the globe makes it difficult to predict the magnitude of its impact on both China and the global economy." Gao told a news conference in Beijing, adding that there's tough work ahead.

To better deal with the epidemic's impact, the government has rolled out a series of measures, such as cutting taxes and fees and offering financial support, to ensure the orderly resumption of work and keep employment stable.

In the next step, the country will offer subsidy for small- and medium-sized companies that recruit new graduates and encourage State-owned companies to hire more graduates for two consecutive years. And the country will ramp up efforts to help migrant works return to work, giving priority to those living in hardship.