More and more people are falling below the poverty line in China; Xi Jinping led government urges more aid for people in need as economy falters
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According to Reuters, the Ministry of Civil Affairs actually put an emphasis on the need for local governments with financial capacity to distribute relief funds and one time allowances to vulnerable populations which include jobless college graduates and those without income. This recent call for assistance follows a similar appeal which was made in the month of September for the support to the extremely poor and orphans.
The economy of China has extremely struggled this year due to a prolonged property crisis and weak domestic demand which was compounded by high unemployment rates among recent graduates, asserted Reuters. Latest official data indicates that the unemployment insurance payouts increased pretty significantly from the month of January to the month of November in the year 2024.
The World Bank has reported a slowdown in the poverty reduction efforts of China while projecting further deceleration in the upcoming years due to an anticipated slower economic growth, noted Reuters. Several analysts have given a suggestion that reviving household consumption is crucial for economic recovery as it remains a primary obstacle to growth.
As China eventually prepares for the upcoming New Year's Day and Lunar New
