China to boost jobs creation

Jobs creation will be a key priority for the Chinese government in 2018.

China plans to put "employment first" this year, as almost 10 million people remain unemployed, and nearly as many college student prepare to join the workforce.

"We will implement an employment-first strategy and more proactive employment policies... and vigorously promote employment and entrepreneurship," said Meng Wei of China's National and Development Reform Commission, according to Reuters.

It is expected that technology and services will be two of the "new growth enginers" supporting potential growth. Accordingly, the government intends to encourage big data, artificial intelligence, and other drivers of the future digital economy. 

Meng noted that policies will also be tweaked to be friendlier to private companies. 

Presently, there are 9.7 million people registered as unemployed in China, with an additional 8.2 million new college graduates -- although official data indicates that the country's unemployment rate in urban areas fell to 3.9% last year, the lowest since 2002.

Almost 70 million urban jobs were created in China over the last few years, with around 13.5 million created in 2017 alone.

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