BEIJING, Aug. 26 (Xinhua) -- China is reinforcing its job market with a mix of targeted policies and robust financial support, underscoring the country's efforts to promote high-quality and sufficient employment.
The country has created more than 12 million new urban jobs annually since the start of the 14th Five-Year Plan period (2021-2025), laying a firm foundation for improving living standards and driving development momentum.
SUPPORTING FIRMS
In east China's Jiangxi Province, Jiujiang Golden Egret Hard Material Co. Ltd recently received nearly 190,000 yuan (about 26,700 U.S. dollars) in unemployment insurance refunds.
The funds, earmarked to help cover social security contributions for employees, have eased operating pressures and boosted confidence, according to the company's human resources manager Yan Zhiqiang.
The company is among more than 6,200 firms in the city of Jiujiang benefiting from the first batch of unemployment insurance refunds this year, totaling over 58 million yuan and helping safeguard more than 170,000 jobs.
Enterprises play a central role in keeping the job market stable. In July, China issued a notice detailing measures to help companies in job retention and expansion, including higher unemployment insurance refunds, phased deferrals of social security payments, and broader subsidy coverage.
Under the new policy, the maximum refund ratio for micro, small and medium-sized businesses has been lifted from 60 percent to 90 percent of the previous year's unemployment insurance payments, while for large enterprises the cap has been raised from 30 percent to 50 percent.
"Such differentiated measures provide precise support for companies of various sizes, helping them retain and expand their workforce," said Zhang Zhanwu, vice president of the Chinese Association of Labor Science.
Official data showed that in the first half of the year, cuts in unemployment insurance rates saved firms over 90 billion yuan in labor costs. Meanwhile, 6.2 billion yuan in unemployment insurance refunds were granted to enterprises, and 11.3 billion yuan was spent on training and other pro-employment programs.
MATCHING SUPPLY WITH DEMAND
In Zhenjiang City, east China's Jiangsu Province, schools and enterprises are joining hands to offer customized training programs, boosting graduates' chances of landing jobs. In Xiamen City, east China's Fujian Province, training is being steered toward emerging sectors such as the digital economy and smart manufacturing.
China is stepping up efforts to ease structural employment mismatches, adapting to rapid technological and industrial changes by improving job surveys, issuing lists of urgently needed positions, and strengthening foresight in human resources development.
To address worker shortages in manufacturing, a key sector for both job creation and talent development, China has launched pilot programs in about 30 cities to integrate human resource services with manufacturing development.
A guideline was issued in June to launch a nationwide campaign to upgrade vocational skills through 2027, aiming to expand the pool of skilled workers in manufacturing and services.
China now has more than 200 million skilled workers, including over 60 million highly skilled professionals, a vital force for building a strong manufacturing base and advancing high-quality growth, official data showed.
China will tap job potential in key sectors and foster growth in areas such as the digital economy, green economy, silver economy and nighttime economy, said Cui Pengcheng, head of the policy research department under the Ministry of Human Resources and Social Security.
TARGETING KEY GROUPS
This year, China's central budget is supporting the recruitment of 34,400 college graduates for grassroots posts, with all expected to be in position by early September.
Employment for college graduates and other young people remains a top priority in China, backed by fiscal, tax and financial policies to help keep youth employment generally stable.
China is also working to support other key groups in employment. Efforts are being made to maintain stable employment for migrant workers and those lifted out of poverty recently. For migrant workers returning home with plans to start businesses, tailored entrepreneurial services are being provided.
Jobseekers facing difficulties, such as those from low-income or zero-employment families, are receiving targeted support, including tailored assistance, priority access to job openings, and access to training and internships.
"The job market is generally stable, but overall employment pressure and structural mismatches remain," said Zhang, calling for stronger coordination among universities, businesses and governments to make employment services more accessible.
SOURCE/AUTHOR XIN HUA NEWS
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