China Sees 1.8 Million Coal Layoffs Ahead

Posted On Dec 31 2020 by

first_img FacebookTwitterLinkedInEmailPrint分享Kevin Yao and Meng Meng for Reuters:China said on Monday it expects to lay off 1.8 million workers in the coal and steel industries, or about 15 percent of the workforce, as part of efforts to reduce industrial overcapacity, but no timeframe was given.It was the first time China has given figures that underline the magnitude of its task in dealing with slowing growth and bloated state enterprises.Yin Weimin, the minister for human resources and social security, told a news conference that 1.3 million workers in the coal sector could lose jobs, plus 500,000 from the steel sector.China’s coal and steel sectors employ about 12 million workers, according to data published by the National Bureau of Statistics.“This involves the resettlement of a total of 1.8 million workers. This task will be very difficult, but we are still very confident,” Yin said.For China’s stability-obsessed government, keeping a lid on unemployment and any possible unrest that may follow has been a top priority.The central government will allocate 100 billion yuan ($15.27 billion) over two years to relocate workers laid off as a result of China’s efforts to curb overcapacity, officials said last week.China’s vice finance minister Zhu Guangyao quoted Premier Li Keqiang as telling U.S. Treasury Secretary Jack Lew on Monday that the fund would mainly focus on the steel and coal sectors.The number of layoffs was reasonable based on the government’s capacity closure targets, said Jiang Feitao, an industry researcher with the China Academy of Social Sciences, a top government think-tank.He said the funds being made available would be used only after the enterprises go bankrupt and settle their debts. He said local governments would also be responsible for dealing with those debts.Full article: China expects to lay off 1.8 million workers in coal, steel sectors China Sees 1.8 Million Coal Layoffs Aheadlast_img read more


Why Man United Captain Maguire fought in Greece

Posted On Sep 22 2020 by

first_imgRelatedPosts Police in Adamawa arrest three car snatchers More troops, police deployed to Kaduna Airport Road, other strategic locations Police kill two in failed Niger State robbery Manchester United skipper Harry Maguire’s arrest allegedly came after his sister was stabbed in the arm during a night out.The 27-year-old spent a second night in a Greek jail last night following his arrest on Thursday night for reportedly getting involved in a fight outside of a bar in Mykonos. According to local publication Mykonos Voice, the altercation began when the England star stepped in to defend his sister Daisy when she was stabbed in the arm with “a sharp object”.A brawl was then said to have broken out between Maguire’s group and another group of British tourists and when police arrived, he was accused of being “verbally abusive to an officer and then hit him”.Two police officers are thought to have suffered facial injuries as they were knocked to the ground in an ensuing scrap, resulting in Maguire and two friends being arrested, with one of the trio then accused of attempting to offer a bribe in order to make the situation disappear.The centre-back and his two friends are facing a prosecutor on the island of Syros charged with violence against officials, bodily harm and attempted bribery – all of which Maguire denies.Describing the events of the night, one eyewitness alleged to The Sun: “There was a group of guys who had been chanting at Harry on Wednesday night, but it was a bit of banter. “On Thursday they were more aggressive, saying, ‘F*ck United’. They were trying to wind him up. They were also trying to mess around with a group of girls there.“Harry got upset. They told Harry, ‘F*ck United’ again and a brawl started with Harry’s mates. As they fell to the ground Harry was kicking the guys in the back. The girls were screaming.“Two police officers nearby came to try and break it up and Harry got really pissed off with them. He was telling them, ‘Go f*ck yourselves, this is none of your business.’ They tried to arrest him and Harry started hitting the police. They had to call for back-up.“Two or three more police came but Harry was so strong and upset that they couldn’t pin him down. He was screaming at them, they had a really hard time — at least one police officer was hurt. It took more than five officers to get him down.”United have said that they are “aware” of Maguire’s situation but have yet to make further comment. —Tags: assaultBargreeceHarry MaguireMan United CaptainMykonosPolicelast_img read more