China has outperformed its initial target for job creation. That’s according to the Ministry of Human Resources and Social Security. The ministry says 12.5 million jobs were created from January through November. That’s already higher than the 10 million target for the entire year.
Some analysts believe the impressive performance is attributable to China’s ongoing reforms: streamlining administrative approvals, and encouraging entrepreneurship and innovation.
The ministry also said China’s job market faces a challenging environment. The ministry promised to continue to improve and implement policies to ensure a stable job market.