The State Council issued a plan on May 1 aimed at further improving the country’s employment and entrepreneurship opportunities amid pressure of creating more jobs as the economy slows down.
It is important to carry out more proactive employment policies, by encouraging mass entrepreneurship and business startups, in an effort to foster a new engine of economic growth, said the plan.
To realize the goal, the State Council has laid out four measures:
First, to further implement the employment-first strategy. The recent increase in jobs in urban areas and unemployment rate should be regarded as an important indicator of the macro adjustments, and be included into plans of national economy and social development. More efforts will be made to develop those industries that can create jobs, and small and micro firms should play a major role in generating jobs.
Second, to create jobs by encouraging entrepreneurship. Authorities should continue to promote mass entrepreneurship and innovation by simplifying business registration procedures, providing incubation platforms and offering financial subsidies. Efforts need to be speeded up to establish the national development fund for small- and medium-sized enterprises and the national venture capital fund for newly emerging industries. Preferential policies will be mapped out for professionals from universities and research institutes to start business. Also, business parks will be established to better accommodate migrant workers willing to start up their own business back in their hometown.
Third, to address employment problems of university graduates and other targeted groups. Small and micro enterprises employing new college graduates can receive one-year social insurance subsidies. Graduates who have taken the government-subsidized student loan will be eligible for the job-seeking subsidy for financially difficult graduates. The employment assistance for people with financial difficulties will be increased to ensure that at least one person is employed in families where nobody is employed and those that depend on minimum living allowances.
Fourth, to strengthen employment and entrepreneurship services and vocational training. Governments at various levels should promote equal access to standardized and professional services, and end discrimination against disabled people, women and rural residents.