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P.U. Chithra joins the Southern Railways        Commander Abhilash Tomy rescued        Abhilash Tomy expected to be rescued soon        Shilpa Shetty faces racism at Sydney airport        Pakistan’s friendship offer to India should not be seen as weakness, says PM Imran Khan        India thrash Pakistan by 9 wickets        Naomi Osaka pulls out of Wuhan Open        Hasan, Asghar, Rashid fined 15 per cent of their match fees        Ready to be sacked if ATK do not fare well: Coppell        Sensex ends in red after 1,000-pt flash crash        OYO to hire over 2,000 tech experts, engineers by 2020        Thousands rally across Russia against raising pension age        Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks        Sisodia, AAP MLAs discharged in case related to 2014 protest        We have no role in selection of Reliance Defence for Rafale deal: Govt        Modi, Ambani carried out Rs 1.3 lakh cr 'surgical strike' on defence forces: Rahul on Rafale issue        Chekka Chivantha Vaanam: Second trailer released        Golden Globe Race: Indian Navy Officer Abhilash Tomy injured; INS Satpura dispatched for rescue        India Calls Off Talks With Pak, Says "Imran Khan's True Face Exposed"        Indian govt wanted Reliance for Rafale, we didn't have a choice: Ex-French prez Hollande        
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International News
Fundamentals of China's economy are sound: Chinese Premier
 
(Beijing, Mar 20, 2018): Playing down global concerns on systemic financial risks being faced by China, Premier Li Keqiang today said the fundamentals of the world's second largest economy are "sound".

China is capable of forestalling systemic financial risks, Li told his annual press conference here ruling out the possibility of such risks in the country.

"The fundamentals of the Chinese economy are sound and the financial sector is stable," Li said in customary press conference at the conclusion of the annual session of China's national legislature.

He also said China aims to generate more than 13 million new urban jobs this year to ensure stable job placement for over eight million fresh graduates this year.

The minimal target is 11 million, but the government will work hard to reach the bigger goal, Li said.

Over the past five years, more than 66 million new urban jobs have been created, Li said, adding that employment has always been an important thing not only for each family, but for governments at all levels.

Li was re-elected for second five-year term by the National People's Congress (NPC) after his candidature was endorsed by President Xi Jinping last week.

Li said at least three million new rural migrant workers will seek jobs in cities in 2018.

"It is the responsibility of the government to provide stable job opportunities for these people," he said.

China has around 280 million rural migrant workers in cities, who have played important roles in the country's urbanisation drive, Li noted.

This year, there will be a record 8.2 million college graduates, five million graduates from secondary vocational schools and nearly one million demobilised military personnel and workers affected by the cut of overcapacity, Li said.

China has downsized 2.3 million strong army by demobilising three lakh troops.

"We must work very hard to ensure there will be jobs for these people, and do our best to avoid zero-employment families," Li said.

Li also said China has the ability to pay pension benefits to over 200 million pensioners in time and in full.

The balance of the country's pension funds stands at 4.1 trillion yuan ( USD 645 billion), he said.

"We have more revenue than expenditure. We also have 1.8 trillion-yuan social security fund as a strategic reserve", he said and announced measures to further improve the government's pension payment ability.

"We should have the confidence in the future," he said. "It is our responsibility... After all, it will be very disappointing if decades of hard work cannot earn one decent retirement," he said.

The state-run Xinhua news agency reported in January that the balance of local government debt stood at a whopping 16.5 trillion yuan (USD 2.6 trillion) by the end of 2017.

But the government played down the risks, saying the debt limit is below the government ceiling of 18.8 trillion yuan.

President Xi Jinping has made tackling financial risk a priority over the next three years while the government has set up the Financial Stability and Development Commission to coordinate efforts to contain a possible crisis.(PTI)


Shilpa Shetty faces racism at Sydney airport
Pakistan’s friendship offer to India should not be seen as weakness, says PM Imran Khan
Thousands rally across Russia against raising pension age
Pak PM Imran hits out at India, calls its response "arrogant" for cancelling talks
Wreckage of Captain Cook’s ship found off US coast
Death toll reaches 136 in Tanzania ferry disaster with scores missing
Kim, Moon join hands on peak of sacred North Korean volcano
Palestinian schools strive to modernize classrooms
Trump: Declassified Russia probe papers expose 'bad things'
100 die in severe flooding in Nigeria: relief agency
Pak govt, Opposition agree for parliamentary probe into vote rigging charges
Air Tanzania to soon resume direct flights to India
Imran Khan govt auctions 70 luxury cars as part of austerity drive
Time Magazine sold to Marc Benioff for $190 million
Hurricane Florence: Death toll mounts to 14
Death toll rises to 8 as Florence pours on the rain
Evacuations underway as huge typhoon nears Philippines
South and North Korea open first liaison office for better communication
Amid deep budget cuts, $52,701 spent on curtains for Nikki Haley’s official residence: Report
Japan's Abe expresses support for better Trump-Kim ties
ENTERTAINMENT NEWS
Chekka Chivantha Vaanam: Second trailer released
 The second trailer of Mani Ratnam movie Chekka Chivantha Vaanam released. The trailer almost reveals  
Freak penne trending with dislikes and trolls
Viswasam- On set photos leaked
Aiswarya- Abhishek's Gulab Jamun would go on floor in mid 2019
KERALA NEWS
Kannur International Airport: Kerala to be the first state with four international airports
 Malappuram: With Kannur International Airport becoming operational, Kerala will be the first state i
Bar bribery case: Court dismisses the vigilance report
State Kalolsavam to be held in December
Actor Captain Raju passes away at 68
NATIONAL NEWS
Commander Abhilash Tomy rescued
 Perth: Indian Naval Commander Abhilash Tomy has been rescued safely three days after being badly in
Abhilash Tomy expected to be rescued soon
Sisodia, AAP MLAs discharged in case related to 2014 protest
We have no role in selection of Reliance Defence for Rafale deal: Govt
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