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beijing [China]May 28 (ANI): Chinese Premier Li Keqiang stressed the importance of implementing economic stabilization policies and supporting market entities to return the situation to the normal track, in an unusually stern warning which comes as COVID restrictions have had a negative impact on the second-largest economy.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks on Wednesday during a teleconference, Xinhua news agency reported.

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It came as President Xi Jinping, who directs some of China’s key policies, is blamed for slow growth. Experts warn that challenge could cost him dearly as he seeks to take on a controversial third term later this year.

In this context, the Chinese Premier, over the past few months, has come into the limelight to call for changes that would put the economy back on track.

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Earlier this month, Keqiang painted a grim picture of the labor market in the world’s most populous country due to COVID-19 lockdowns. He described the employment situation as “complex and serious”.

He called on all levels of government to prioritize measures to boost jobs and maintain stability, CNN reported.

These measures include helping small businesses survive, supporting the internet economy, offering incentives to encourage people to start their own businesses, and providing unemployment benefits to laid-off workers.

His remarks come at a time when China’s unemployment rate has hit its highest in nearly two years, according to government data.

Every year, China must create millions of new jobs to keep the pace of the economy going. The government has set a target of creating at least 11 million jobs in cities by 2022. (ANI)

(This is an unedited and auto-generated story from syndicated newsfeed, LatestLY staff may not have edited or edited the body of the content)