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China to cultivate more skilled personnel in manufacturing sector

Date: 2022-06-14
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BEIJING, June 13 (Xinhua) -- China will speed up the cultivation of skilled personnel that are urgently needed to promote the high-quality development of the country's manufacturing industry, according to a government plan.

From 2022 to 2025, China will establish national training bases focusing on the training of highly skilled personnel, as well as promoting technology and quality upgrading in the manufacturing sector, says the plan issued on Monday by three government bodies including the Ministry of Human Resources and Social Security.

The country will also increase government subsidies for the training of personnel that are urgently needed and improve the incentive mechanism for those talents, according to the plan. 

In terms of RMB loans, due to the year-on-year increase in RMB loans this month, in the first five months of this year, the cumulative increase in RMB loans exceeded the same period last year, with an increase of 232.6 billion yuan over the same period last year. Wang Qing said that in May, as the impact of the epidemic eased, the process of economic recovery began, and the loan demand that had been suppressed in the early stage experienced a release process. In addition, the current policy intensified efforts to promote banks to expand credit supply, and the new loans in that month significantly strengthened, exceeding the market's general expectations.

However, industry insiders also said that the structure of new RMB loans still needs to be improved. Dong Ximiao, chief researcher of Zhaolian Finance, said that from the perspective of the increase of RMB loans, there are mixed feelings. Happily, the loans of enterprises and institutions increased by 1.53 trillion yuan, an increase of 729.1 billion yuan year-on-year. Among them, medium-and long-term loans increased by 555.1 billion yuan, indicating that business confidence and expectations have recovered. Worryingly, short-term loans and bill financing increased by 264.2 billion yuan and 712.9 billion yuan, respectively, in the increase of loans of enterprises (institutions). In other words, the loan increment of enterprises (institutions) mainly comes from the impulse of short-term loans and bill financing.

Looking forward to the future, Dong Ximiao said that macro-policies should continue to exert full efforts and walk ahead of the market curve, helping market players to solve problems and the real economy to recover steadily. Financial institutions should further strengthen their social responsibilities, properly optimize the allocation of financial resources, and appropriately adjust the credit system and process while adhering to the commercial sustainability and overall controllable risks, so as to better meet the needs of the real economy, especially the regions and industries greatly affected by the epidemic.


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