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China has offered more preferential policies for re-employment of those who lost jobs with state-owned enterprises,according to the Shanghai Morning Post.
The Ministry of Labor Security and the State Administration of Taxation have stipulated the following benefits for the jobless from the state-owned companies:
*If these unemployed individuals get jobs in the residential community service sector,they can enjoy simplified registration procedures and be exempt from business tax,personalincome tax and other administrative charges for three years.If they open private firms,they can enjoy a partial or total waiver of administrative charges for one year.
*Firms employing these jobless people will get benefits such as loans from commercial banks and credit cooperatives.
*Business taxes can be waived for three years for employment agencies which successfullyhelp jobless individuals from state enterprises to find new jobs or open a private business.The tax waiver will go to an agency if more than 60percent of its successful placements areindividuals from state industries.
*After the free-tax period is over,an employment agency can have half its business taxeswaived for two years if more than 30percent of the jobless people it assists came from state industries.
(Shanghai Daily March 7, 2002)
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