China needs to create 15 million jobs every year

China Congress
Congress of the Communist Party of China [Damir Sagolj/Reuters]

China needs to create jobs for 15 million people every year and will maintain support for entrepreneurship to help achieve this, the country’s labour minister said on Sunday.

The overall pressure on employment is still very large, head of China’s Ministry of Human Resources and Social Security, Yin Weimin, told reporters, singling out recent university graduates as one group in need of more job creation.

China is confident that it can maintain a stable employment situation despite these challenges, Yin said.

According to the World Bank, China’s 2016 unemployment figures were up by 0.02 from 4.585.

In the last 30 years, China has enjoyed unprecedented economic prosperity with 700 million people lifted out of poverty. The government said it has plans in place to add another 40 million in the coming three years.

Source: Reuters