(9 Mar 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Beijing – 9 March 2025
1. News conference
2. Reporters
3. Reporter asking question
4. SOUNDBITE (Mandarin) Wang Xiaoping, minister of human resources and social security:
"The overall employment pressure remains unchanged. Structural problems are becoming more prominent, and the pressure on the promotion of employment and income for the people is increasing. At the same time, the external environment is becoming more complex and severe, and the foundation for the domestic economy to recover and improve is not yet stable, which may have a certain impact on employment.”
5. News conference
6. Reporters
7. SOUNDBITE (Mandarin) Wang Xiaoping, Minister of Human Resources and Social Security:
"We must find the balance point between technological innovation and employment stability, support labor-intensive industries to absorb and stabilise employment in the process of transformation and upgrading, coordinate the application of new technologies and job conversion, and create new employment opportunities."
8. Various of reporters
9. SOUNDBITE (Mandarin) Ni Hong, minister of housing and urban-rural development:
"With the joint efforts of all parties, the confidence has been effectively boosted, and the real estate market has undergone positive changes. According to statistical data, the sales area and revenue of newly-built commercial housing achieved positive growth in the fourth quarter of last year."
10. Reporter asking question
11. Reporters
12. SOUNDBITE(Mandarin) Ni Hong, minister of housing and urban-rural development:
"We will support local governments in fully exercising their autonomy in acquiring entities, pricing and usage. The purchased commercial housing shall be prioritised for affordable housing, resettlement for urban village renovation, talent housing, youth apartments and staff dormitories."
13. Reporters
14. News conference
STORYLINE:
China’s ongoing session of the annual National People’s Congress held a press briefing on Sunday on the theme of people’s livelihood, addressing employment pressures and the real estate market.
The employment situation is showing signs of improvement but the foundation for economic recovery remains unstable, said Wang Xiaoping, the minister of human resources and social security.
"The pressure on total employment remains unchanged," she said, noting that people are facing difficulties finding work and raising their incomes.
"The external environment is becoming more complex and severe, and the foundation for the domestic economy to recover and improve is not yet stable, which may have a certain impact on employment," she added.
Wang said more fiscal, monetary, industrial and employment policies will be launched this year to create more "high-quality employment opportunities."
Government ministers speaking to journalists on Sunday pledged continued efforts to stabilise the real estate market.
For real estate, a portion of this year’s 4.4 trillion yuan ($600 billion) in special local government bonds would go toward purchasing completed but unsold housing projects and converting them to affordable housing, apartments for young people, staff dormitories and other uses, said Ni Hong, the minister of housing and urban-rural development.
The government has been redoubling efforts in recent weeks to stabilize the real estate market after a downturn triggered by a crackdown on excess borrowing.
Once a bright spot in China’s economy, the property market has since become a drag.
AP video shot by Borg Wong
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