Beijing, June 20, 2024, The Europe Today: In a significant move to address youth unemployment, Chinese authorities on Wednesday unveiled a comprehensive package of policy measures aimed at promoting the employment of college graduates and other young demographics. This initiative, spearheaded by the Ministry of Human Resources and Social Security, the Ministry of Education, and the Ministry of Finance, underscores the government’s commitment to facilitating job opportunities for the younger generation.
Central to the new measures is the introduction of combined one-off employment subsidies and job expansion allowances. These incentives are designed to reward employers who hire qualified college graduates and registered unemployed youth. According to a circular released by the ministries, these allowances will be available until December 31, 2025.
The circular highlights advanced manufacturing as a pivotal industry for youth employment. To support this, an action plan will be rolled out to help young people secure jobs in this sector, including organizing vocational experience activities. This initiative aims to bridge the gap between young job seekers and the demands of the advanced manufacturing industry.
Furthermore, the government will implement an ambitious internship recruitment plan. This plan will support enterprises, government-invested projects, and public institutions in offering internship opportunities. In 2024 and 2025, the goal is to create at least 1 million internship positions each year, providing invaluable hands-on experience for young professionals.
The urgency of these measures is underscored by the fact that over 11.7 million college students are set to graduate in China this year. The 2024 government work report emphasized the necessity of promoting employment for young people, stating, “We must do more to promote employment for young people, and provide better guidance and services to help them secure jobs or start businesses.”
This announcement follows a recent initiative by the Ministry of Human Resources and Social Security, which launched a 100-day recruitment campaign in early June. This campaign aims to provide more than 10 million job opportunities to recent college graduates, further reflecting the government’s proactive approach to tackling youth unemployment.
These coordinated efforts by various ministries highlight China’s strategic focus on harnessing the potential of its young workforce, ensuring they contribute effectively to the nation’s economic growth and development.
