SCIO briefing about policies and measures on stabilizing employment, ensuring stable growth and promoting high-quality development

Xinhua News Agency:

The Political Bureau of the CPC Central Committee meeting proposed continuously improving the policy toolbox for stabilizing employment and the economy. How would you describe the employment situation this year? What measures will be taken in the future? Thank you.

Yu Jiadong:

Thank you for your questions. The CPC Central Committee and the State Council attach great importance to the employment work. General Secretary Xi Jinping emphasized that efforts must be made to ensure employment, which is the most basic component of people's wellbeing. All regions and departments have resolutely implemented the instructions and taken various measures to stabilize and expand employment. In the first quarter of this year, overall employment remained generally stable, with 3.08 million new urban jobs created nationwide, an increase of 50,000 year on year, exceeding the expected pace. This was also mentioned by Mr. Zhao just now. The average surveyed urban unemployment rate in the first quarter was 5.3%, lower than the expected control target. Employment among key groups such as college graduates, migrant workers and people having difficulty securing employment was stable.

At the same time, the foundation for the sustained recovery and improvement of the economy needs to be further consolidated. With increasing impacts of external shocks, the United States has imposed multiple rounds of high tariffs, leading to production and operation difficulties for some foreign trade enterprises. This has affected the employment of some workers, causing continued upward pressure on employment. On April 25, the meeting of the Political Bureau of the CPC Central Committee analyzed and studied the current economic situation and economic work, releasing a clear signal of stabilizing employment and the economy and promoting high-quality development. We will resolutely implement the decisions and arrangements of the CPC Central Committee and the State Council, face difficulties head-on, move forward under pressure, and make every effort to ensure employment remains stable overall. We will focus on five key areas:

First, we will continue to tap into potential and expand employment opportunities. We will carry out the implementation plan for tapping into potential and expanding employment opportunities, and introduce incentive policies to boost job creation in key areas such as the development of new quality productive forces, creation of new areas of consumer demand, implementation of key engineering projects, and provision of basic public services. Last month, the leading group on employment work under the State Council issued a document on intensifying efforts in tapping into and expanding job opportunities in key areas, key industries, urban and rural communities, and among micro, small and medium-sized enterprises. It also aims to support key groups in seeking employment and starting businesses. On the other hand, we will actively expand new employment growth areas. Recently, some large enterprises have released large-scale recruitment plans. According to data from market institutions, in the first quarter, the demand for recruitment in industries such as consumer services, transportation and logistics, and resident services increased year on year, and the demand for positions involving AI, such as robotics algorithm engineer, increased by more than 30% year on year. All these reflect the significant potential and strong resilience of China's labor market.

Second, we will roll out a batch of policies to stabilize employment. We will fully implement existing policies, speed up the delivery of unemployment insurance premium refunds, guaranteed loans and employment subsidies, and extend the policy of reducing premiums for unemployment insurance and workers' compensation. Previously, we increased the quota for special loans aimed at stabilizing and expanding employment, with a maximum credit line of 50 million yuan for micro and small enterprises and a maximum credit line of 10 million yuan for individuals. Recently, together with the MOF, we allocated 66.7 billion yuan of central government employment subsidy funds to ensure policy implementation. At the same time, we will speed up the introduction of incremental policies, including enhancing support for enterprises to create more jobs, increasing employment subsidies for individuals and raising the proportion of refunds for unemployment insurance premiums for enterprises significantly affected by tariffs.

Third, we will prioritize employment for key groups. We will make the employment of college graduates and other young people a top priority, speed up the implementation of the 17 measures for promoting their employment in 2025 just issued by the MOHRSS, MOE and MOF, launch an employment service campaign, and stabilize employment levels. We will expand channels for jobseekers both close to their homes and in other places, increase support for work-relief programs, promote the employment and income increases of migrant workers, and maintain the scale of employment of the 30 million people lifted out of poverty. We will strengthen employment assistance for people having difficulty securing employment, implement the policy of "two preferential treatments and three subsidies," which consists of preferential loans and tax benefits, and training, job and social security subsidies, to ensure the bottom line of employment for disadvantaged groups.

Fourth, we will intensify efforts in vocational skills training. We will fully implement the "Skills Illuminate the Future" campaign and promote a project-based training model that integrates four key elements: job demand, skills training, skills evaluation and employment services. Differentiated subsidy support will be implemented to better align training with employment and increasing incomes. We will support enterprises significantly affected by tariffs to organize various forms of training, such as on-the-job training and job transfer training to help retain their workforce.

Fifth, we will strengthen public employment services. We will mobilize public employment service agencies and human resource service enterprises to organize special recruitment sessions and targeted job placements for cities and industrial parks affected by tariffs to help workers' transition to new employment. We will strengthen the protection of rights and interests of those in flexible employment and new forms of employment, and carry out special actions to clean up and rectify the order of the human resource market, thereby better protecting workers' employment rights.

In addition, I would like to add a few words. Along with relevant departments, we have conducted a comprehensive analysis and full prediction of this year's employment situation and are fully prepared to address various uncertainties. Our employment policy toolkit is sufficiently stocked. We have made policy reserves in encouraging enterprises to create more jobs, supporting enterprises to stabilize and expand employment, and helping workers to improve skills as well as seek employment and start businesses. These policies will be rolled out in a timely manner according to changes in the situation. Through our joint efforts, we believe that we have the confidence and strength to continue maintaining the overall stability of employment. Thank you.