China to introduce new measures to maintain stable employment
In order to stabilise the job market, China is looking to be more proactive in terms of employment policy for 2019.
The country needs to create 15 million new jobs in 2019 to support the record number of at 8.34 million college graduates that will enter the job market.
Qiu Xiaoping, deputy head of the Ministry of HR and Social Security, said at a press conference that a list of measures will be implemented to help stabilise the job market.
For example, the study on how to reduce social insurance rates to help promote the growth of the corporate sector this year will be accelerated, said Qiu.
China’s urban registered jobless rate stood at 3.8% at the end of 2018, and a least 13.61 million jobs were created last year, an increase of 100,000 compared to 2017.
Xin Guobin, a vice industry minister who also attended the press briefing, said that despite falling sales and an ongoing economic slowdown, authorities are still positive about automobile production for the coming year.