Yin Chengji News
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The slowdown in China’s economy isn’t making it any easier for Liu Fenglin to hire 10 experienced welders this year for his heating-equipment maker.
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China’s stocks fell after property and retail sales weakened during a weeklong holiday and the government signaled caution toward further easing of monetary policy by holding off on a cut in bank reserve requirements.
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China’s job market for university graduates is showing signs of stress as the nation’s deepest economic slowdown since the global financial crisis coincides with a record 6.8 million students completing their studies.
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Japan’s biggest China fund is focusing on consumer stocks in a bet domestic demand will swell in the world’s most-populous nation, said Yoshinobu Uehara who runs the fund for Sumitomo Mitsui Asset Management Co.
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China’s employment situation remains “very grave” with 24 million job-seekers for only 12 million openings, Xinhua News Agency said, citing Yin Chengji, a Ministry of Human Resources and Social Security spokesman.
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At least nine Chinese provinces and cities raised minimum wages by as much as a third today after Premier Wen Jiabao called for measures to head off growing worker unrest in the world’s third-largest economy.
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China, the world’s second-biggest economy, is heading toward a soft landing, speakers at the Bloomberg Link China Conference in Hong Kong said.
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