China Bolsters Social Safety Net Amid Economic Downturn
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Beijing vows stronger social safety net amid economic toll, orders monitoring of low-income groups and assistance for those on or below poverty line.
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Government assistance to be more precise, prompt and effective to protect livelihoods, with region-specific services like food for elderly and rural support.
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Concerns over whether economy has bottomed out as property woes and geopolitics continue to bite.
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Per capita income growth slowed to 2.9% in 2022 from nearly 7% before, risks for low-income groups due to low savings and employability.
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Experts say more money needed in people's hands to boost consumption and economy, government redistribution crucial.