According to Beijing Times, Haidian district in Beijing offered CNY13.1 million as employment and social insurance subsidies to eight Chinese companies that have been hit by the global financial crisis.
This measure has helped about 1801 employees retain their jobs, but the names of the companies are not available.
Haidian District Labor and Social Security Bureau provided CNY562 per month to each of the employees. For companies that are affected by the economic depression, Haidian will provide their employees insurance subsidies to reduce their overall burden.
Haidian is home to Zhongguancun, which is often called the "Silicon Valley of China" because of its high concentration of technology companies and prime tax benefits given to I.T. companies.
