$27.5 billion in spending boosts employment, entrepreneurship

China has spent over 200 billion yuan ($27.5 billion) to stabilize employment and promote entrepreneurship this year, China Central Television on Monday.

The Ministry of Human Resources and Social Security said last month that about 10.22 million new jobs had been created in urban areas in first nine months of the year, roughly 85 percent of the annual target.

It said the job market remained stable, with the surveyed unemployment rate staying around 5 percent in September.