China state firms told not to cut jobs in 2009

26 Dec, 2008

China's state-owned enterprises should avoid cutting jobs in 2009 even though it is shaping up as a most difficult year, the chief regulator of state assets said in remarks published on Thursday. Li Rongrong, chairman of the State-owned Asset Supervision and Administration Commission (SASAC), said that state firms, many of which are parent groups of Chinese listed firms, should place more emphasis on "business and social stability".

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