China Rolls Out an Array of Pro-Employment Policies to Stabilize Employment in the Country

June 29, 20177:53 am572 views
China Rolls Out an Array of Pro-Employment Policies to Stabilize Employment in the Country
Chinese Premier Li Keqiang expressing his views at the opening ceremony of the Annual Meeting of the New Champions 2017.

To stabilize employment in the country, China has rolled out an array of pro-employment policies for college graduates, the redundant staff, disabled and migrant workers to prioritize employment in its development agenda.

Leading the movement to fuel job creation and fostering the country’s entrepreneurial wave, Chinese Premier Li Keqiang expressed his views at the opening ceremony of the Annual Meeting of the New Champions 2017. He stressed on employment as a fundamental to inclusive growth.

“Over the past years, China has seen more than 13 million jobs created for urban residents annually, with the country’s urban employment rate pegged at around 5 percent. Also the growth of Chinese residents’ income has kept pace with GDP growth, while China’s Gini index continues to drop and the middle-income group is expanding,” Li Keqiang was quoted by Xinhua in its report.

“This is a remarkable achievement for a developing nation with more than 1.3 billion people, and it is also an important contribution to world inclusive growth,” Li added. The country has further delivered better than expected results in its efforts to develop mass entrepreneurship and innovation.

See: College Graduates in China Facing Challenging Labour Market and Declining Salaries

The number of market entities in China has increased on a daily average of 40,000 in the past three years. Also during the years, more than 15,000 enterprises were registered every day on an average, with about 70 percent of them active in business, and the number of new enterprises rose to 18,000 a day in May this year.

Owing to steady economic transition, Li expressed confidence on China being able to achieve major growth targets this year due to continuous improvements in structure and efficiency. The government set the GDP growth target at around 6.5 percent for the full year, while pledging to pursue better results in actual economic work.

China will further expand market access in the service and manufacturing sectors, relax restrictions on foreign ownership, and treat Chinese and foreign companies on an equal basis.

As technological and industrial revolution is expected to bring profound changes to the world, China should be able to grab this opportunity, promote innovation-driven development in its effort to chase and rank among the top world’s technological forerunners .

Also read: Professionals in China Can Expect Modest Salary Increase in 2017

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