According to the Beijing Times, Haidian District in Beijing has offered CNY13.1 million as employment and social insurance subsidies to eight Chinese companies that have been hit by the global financial crisis.
It is said that this measure has helped about 1,800 employees retain their jobs.
In addition, Haidian District Labor and Social Security Bureau has provided CNY562 per month to each of the employees who were dismissed to make them reserved talents for the respective companies. For companies that are greatly affected by the economic depression, Haidian District will provide them with employees' insurance subsidies to reduce their burden.
