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Entrepreneurship and employment pick up momentum

Updated: Jan 3,2018 2:34 PM

The first 11 months last year saw 12.8 million new placements, way ahead of the annual target of 11 million. Meanwhile, the first three quarters witnessed a 12.5 percent year-on-year rise in the number of newly registered enterprises, signaling more improvements coming to the fore, People’s Daily reported on Jan 3.

A boom of entrepreneurship

A circular regarding the government work in promoting entrepreneurship came up with a slew of measures, including transforming obsolete facilities for the use of cultivating startups and subsidizing small and micro businesses.

Additionally, there were also other favorable policies. Well-staffed training aided by the internet greatly bolstered entrepreneurs to forge ahead; a sound public employment service system was of immense help to blaze a trail for job seekers.

Migrant workers become rural entrepreneurs

It has been a national phenomenon that millions of rural migrant workers flow back to their hometowns to start their own careers, while others who work in big cities also see a steady increase in wages.

This wave of rural entrepreneurship not only benefits entrepreneurs per se, but also facilitates the benign development of employment environment in emerging rural business areas. Progress made in this regard had ushered in 5.53 million new placements by the end of October last year.

Employment of graduates

Thanks to of the multiple preferential policies, including financial subsidies, taxation cuts, and recruitment campaigns in various forms, most of the graduates ended up employed last year.

According to officials at the Ministry of Human Resources and Social Security, the government will continue to prioritize and boost the employment of graduates via amplifying employment channels and improving related services.