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Meredith Chen

There is still huge potential to create new jobs in China, the country’s top economic planner said on Tuesday, days after the central government unveiled an array of stimulus measures.
Plans were in place to address “structural issues” in employment and expand strategic industries, National Development and Reform Commission (NDRC) officials told a press conference in Beijing.
They also pledged to ease operational difficulties for small and medium-sized enterprises (SMEs) – the backbone of growth and job creation.
“There have been increases and decreases in job availability; some positions may be receding, while others are still in high demand, indicating some structural issues. We are taking measures to resolve these problems,” NDRC chairman Zheng Shanjie said.
Li Chunlin, one of four NDRC deputy heads at the briefing, pointed to the jobs potential of China’s booming low-altitude economy.
“Technological advancements not only drive economic transformation and industrial upgrading but also give rise to many new professions and job opportunities,” Li said.
Beijing unveiled a flurry of measures to boost market confidence and regain growth momentum in the run-up to the “golden week” holiday starting on October 1, China’s National Day.


This came as China’s economic recovery remained sluggish, with young people struggling to find jobs despite government encouragement to hire graduates. SMEs, despite being vital for technological innovation and employment, have borne the brunt of the economic slump.
Zheng Bei, another deputy head, said the planning body would work to ensure equal treatment for state-owned and private enterprises, and revise regulations to facilitate prompt payments to SMEs.
Beijing has repeatedly pushed to address the country’s long-standing affliction of “triangular debt” – where a series of delayed or partial payments leave companies indebted to each other or the banks.
The top leadership has also repeatedly reassured private entrepreneurs of their firm support, while clearing market entry barriers and cracking down on the abuse of administrative power.
“We will … adopt more inclusive, cautious regulatory practices and flexible enforcement methods in administrative law enforcement to minimise or reduce the impact on the normal production and operation activities of businesses,” Zheng Bei said.
According to Li, the low-altitude economy has created a huge market for drone operators, with the potential to create up to a million new jobs.
The sector has been increasingly touted as a new growth driver as planners look to manned and unmanned activities in the skies, from drone deliveries and surveillance to flying cars and tourism.
By next year, the shortage of specialised talent in new energy vehicle maintenance and research and development is also forecast to reach 1.03 million, Li said.
The field currently employs less than 100,000 people, Li added, highlighting the potential for “a significant number of job opportunities” ahead.


The NDRC has called for the creation of more knowledge- and skill-based openings in emerging strategic industries, including information technology, biotech, new material and new energy, and energy conservation and environmental protection, according to Li.
He also pointed to the ageing population in China and the massive “silver economy” as job drivers, citing the potential for employment and consumption in social services sectors such as elderly care, domestic service, childcare and logistics.
The domestic services industry has a “severe shortage” of high-quality and highly skilled personnel, with market demand reaching 50 million, while only around 30 million are currently in the industry, Li said.
Authorities are also working to leverage vocational education and skills training to promote employment, boost investment in training infrastructure, accurately align with firms’ labour needs, and provide workers with “targeted, order-based, and project-based training”, he added.
The national youth unemployment rate has hit a new high since Beijing tweaked the criteria last year to exclude students. The jobless rate for the 16-24 age group rose to 18.8 per cent in August, from 17.1 per cent in July, according to latest data, meaning nearly one in five Chinese youths is unemployed.
Weak consumption sentiment is another challenge facing China’s economy. NDRC chair Zheng pledged that government policies would focus more on improving livelihoods and promoting consumption, while leveraging investment to boost growth.
Deputy head Liu Sushe said that local infrastructure investment would prioritise the people’s needs while his peer Li vowed to ensure there was no shortfall in key livelihood needs.


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China

Politics

Officials pledge to address ‘structural issues’ in job market and ease operational pain for SMEs, following major stimulus from Beijing


Officials pledge to address ‘structural issues’ in job market and ease operational pain for SMEs, following major stimulus from Beijing.


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