China creates over 12 million urban jobs in 2023

China created a total of 12.44 million jobs in its urban areas in 2023, official data showed Wednesday. Last year’s 5.2 percent growth in gross domestic product was pivotal to job creation, with the service sector leading the economic recovery, Yun Donglai, an official with the Ministry of Human Resources and Social Security, told a press conference.

The country has scaled up policy support for employment, with financial assistance from central and local governments exceeding 300 billion yuan (about 42.2 billion U.S. dollars) throughout 2023, Yun said. In the subsequent steps, the country will maintain employment as its top priority by increasing fiscal subsidies and tax incentives, providing greater financial assistance, and reducing the social insurance burden, said the official.

It will encourage advanced manufacturing, along with the digital, eco-friendly, and elderly care sectors, to play a greater role in creating jobs while intensifying support for major employment drivers such as private, small, and medium-sized companies. An employment promotion campaign will also be launched from January to April, aimed at creating jobs for key populations nationwide, according to the official. “China’s employment is expected to remain generally stable, due to the country’s steady economic rebound, the transition from traditional to new growth drivers, and the continued emergence of new sources of job creation,” Yun added. RSS

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