Shenzhen has rendered greater policy support for keeping payrolls stable and boosting job creation, in a bid to ensure stable economic performance, Shenzhen Special Zone Daily reported yesterday.
Statistics from the city’s human resources and social security bureau showed that as of the end of July, Shenzhen had recorded a total of 12.48 million people employed, with 112,900 newly hired and 20,600 re-employed this year.
“Our company has recruited 151 fresh college graduates this year from disciplines covering computing, electrical engineering and automation,” a human resources staffer from Shenzhen Das IntelliTech said, adding that the measures the government has released to relieve enterprises’ burdens have encouraged them to recruit fresh graduates.
Shenzhen has also stepped up its efforts on deferring employers’ social insurance contributions and refunding enterprises’ unemployment insurance premiums to keep stable employment and provide job creation subsidies.
These have underpinned the faster recovery and steady growth of the city’s economy, according to the report.
As of the end of July, local enterprises had saved a total of 1.44 billion yuan (US$213 million) in unemployment and employment injury insurance premiums, and enterprises had been relieved of cash flow pressures amounting to 8.6 billion yuan in deferred social insurance payments.
Shenzhen has also increased its support for entrepreneurial guaranteed loans, raising the loan quota while lowering the loan threshold for small- and micro-sized enterprises, which provided more employment opportunities, the report said.
As of June, the city had issued 837 startup guarantee loans amounting to 989 million yuan, which alleviated startups’ financing difficulties.
“Shenzhen is the paradise for entrepreneurs, where newborn enterprises grow,” said Wang Maolin, a partner of Standard Robots Co. Ltd. Wang won second prize at the 2018 Dreamcatcher Competition organized by the local government, which brought it more opportunities and helped its business grow. In 2021, the company received 600,000 yuan in entrepreneurial guaranteed loans.
In addition, Shenzhen has organized various online and offline job fairs. Futian District kicked off a 60-day online job fair for college students and youths from the Guangdong-Hong Kong-Macao Greater Bay Area on July 11.