China sees higher risk of mass unemployment

Beijing

CHINA's cabinet said on Wednesday that risks of mass unemployment in some regions and sectors have increased and pledged more fiscal and monetary-policy support to address the potential rise in the jobless rate.

The government plans to cut further excess and inefficient capacity in its mining sector and "smokestack" industries this year, part of efforts to upgrade its economy and reduce pollution, but the move threatens to throw millions more out of work.