Job applicants consult recruitment information at a labor market on Feb. 27, 2016 in Dalian, Liaoning Province. (Photo : Getty Images)
China is aiming to produce 50 million jobs by the end of 2020, through policies and job training programs for targeted group with the aim to keep the country's unemployment rate below 5 percent each year, China Daily reported.
The move was also aimed at filling in the estimated 4.8 million vacancies per year caused by retiring employees and workers.
According to guidelines released by the State Council on Monday, Feb. 6, the government will help certain groups, especially college graduates and workers who were laid off in overcapacity industries, find jobs.
The government will also implement special policies for graduates willing to work in distant rural areas by giving them tax cuts and tuition fee discounts, the guidelines said.
The guidelines also provide the launching of special programs that will provide resources to areas where laid-off workers can be relocated.
According to the Ministry of Human Resources and Social Security, about 1.8 million workers in the coal and steel industries are expected to be laid off.
An unnamed senior official of the National Development and Reform Commission's Employment Department, said that it is not easy to produce 50 million jobs, considering the economic slowdown and the government's strong commitment to reduce overcapacity.
The official said that there are "key challenges" to meet this goal as new job opportunities are hard to find, considering the 7.95 million new college graduates and the 1 million laid-off workers in overcapacity industries.
Based on the 13th Five-Year Plan period (2016-2020), an estimated 4.8 million jobs will be created each year from vacant positions caused by retirement.
"Although there are no easy answers to filling the gap, there should be hopes in new emerging industries," the official said, adding that young people should be assisted by local governments to help them adjust to industrial changes.
According to a report released in Jan. by Boston Consulting Group, the country's digital economy will reach about $16 trillion by the end of 2035, which is expected to generate a total employment capacity of 415 million, double that of 2020.
This would require job applicants to have better specialized skills, strong interpersonal communication skills, as well as to be more creative, more flexible and a fast learner, the report added.
