China has unveiled a fresh round of middle-scale measures to prop up the slowing economy and at the same time create more jobs for the Chinese people.

The economic package consists of tax breaks to small and medium enterprises, construction of railway lines and more support measures to help the poor.

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Premier Li Keqiang said that the government's top priority is to create jobs for the people rather than reaching its target of 7.5 percent in GDP growth.

Li said they hope to increase railway lines up to 18 percent more this year in comparison to last year's railway construction record. The government intends to source the funds by selling 150 billion Yuan or US $24.6 billion worth of government bonds.

Most of those tracks will be built in the southern and western parts of the country.

As another stimulus, the government will slash taxes on small firms until 2016.

Economic analysts pointed out that the targeted measures will help support its economic growth and balance the supporting growth and jobs in the short-term. This would pave the way for China to initiate reform measures in the long term.

Li said the government is putting in place reforms and economic policies that will "entice investors to put up business in China and boost jobs.

The State Council announced that it will initiate more measures this year to boost growth such as increasing domestic consumption, spending and employment.