China’s State Council on 9 July announced a new package of measures aimed at keeping the labour market stable amid protracted trade tensions with the United States. The plan raises unemployment-insurance refund rates for small and medium-sized enterprises to as much as 90%, up from 60%, and to 50% for large companies, compared with the previous 30%. Firms that hire job-seekers aged 16 to 24 and pay full social-security contributions for at least three months can receive a one-off subsidy of up to 1,500 yuan (US$209) per recruit. Companies under financial strain may also defer payments of pension, unemployment and work-injury insurance, while local governments are instructed to step up monitoring of employment conditions and roll out further support if needed. The policy rollout coincided with fresh labour-market data. The Ministry of Human Resources and Social Security said on 22 July that China created 6.95 million new urban jobs in the first half of 2025, achieving 58% of the full-year employment target and keeping overall hiring “generally stable.” The youth unemployment rate, however, remained elevated at 14.9% in May, underscoring the focus on young job-seekers in the latest stimulus package.