Economic Watch: China to beef up efforts to bolster youth employment | News from Xinhua

    03-11, 2024

    BEIJING, March 11 (Xinhua) -- China has pledged to stabilize and expand employment and improve people's livelihoods as a priority of its overall socio-economic development efforts.How to promote employment, particularly for young job-seekers, is a hot topic widely discussed by national lawmakers and political advisors during this year's "two sessions."The current employment situation has generally improved with the stabilization and improvement of the economy, said Mo Rong, a member of the National Committee of the Chinese People's Political Consultative Conference, China's top political advisory body.The number of young job-seekers keeps growing, making competition in the job market steeper. However, there are many positive factors available to boost the job market, such as economic growth and policy support, added Mo, president of the Chinese Academy of Labor and Social Security.Over 11.7 million students are expected to graduate from college this year. More efforts should be made to promote employment for young people and provide better guidance and services to help them secure jobs or start businesses, according to this year's government work report unveiled last week for deliberation.Wang Jinsong, a deputy to the National People's Congress (NPC), China's national legislature, said keys to enlarging the job market include accelerating industrial restructuring and high-quality development, cultivating advanced manufacturing, modern agriculture and service industries, and creating more intellectual and technical posts for college students."Many new jobs and occupations will emerge, providing young people with more new career choices and new space for development," said Wang, also dean of the Graduate School of Tianjin University of Technology.The government work report puts forward a slew of measures, such as making traditional industries higher-end, smarter and more eco-friendly, fostering emerging industries and future-oriented industries, and opening up new fields such as quantum technology and life sciences.According to Minister of Human Resources and Social Security Wang Xiaoping, there is already strong demand from the job market for talent in fields such as artificial intelligence and big data.After emerging industries create new job opportunities, reform of education and training can help young people meet such job demand.The government work report said China will enhance vocational skills training to meet job demand in sectors such as advanced manufacturing, modern services and elderly care.Wu De, an NPC deputy and president of Sichuan Agricultural University, said that to improve the quality of student education and training, the university has since 2020 been cutting or optimizing majors that are difficult for students to find a job.The university has also been improving its curriculum based on its own characteristics, and is placing greater emphasis on practical training in cultivating talent, Wu added."It is obvious that our graduates now have a wider range of job opportunities, and they are more adaptive," Wu said.Notice: the whole text is transferred from Xinhua just for information sharing.Here, we respect your intellectual property right and your other lawful rights. As any content here violates any of your lawful rights, please contact us, and we will delete related content.

    Xictionary: New quality productive forces | News from Xinhua

    03-07, 2024

    BEIJING, March 6 (Xinhua) -- Chinese President Xi Jinping has stressed developing new quality productive forces amid the country's accelerated efforts to foster new growth drivers and promote high-quality development.First put forward by Xi in his inspection tour of northeast China's Heilongjiang Province in September 2023, the term was highlighted again at the Central Economic Work Conference in December, and became the subject of the first group study session held by the Political Bureau of the Communist Party of China (CPC) Central Committee this year.With innovation playing the leading role, new quality productive forces mean advanced productivity that is freed from traditional economic growth mode and productivity development paths, features high-tech, high efficiency and high quality, and comes in line with the new development philosophy, Xi, also general secretary of the CPC Central Committee, said at the study session.New quality productive forces are driven by revolutionary technological breakthroughs, innovative allocation of production factors, and deep industrial transformation and upgrading, he noted.Xi highlighted the concept again Tuesday when participating in a deliberation at the ongoing annual national legislative session, stressing developing new quality productive forces based on local conditions.He called for efforts to step up innovation, foster emerging industries, adopt forward-thinking plans for developing future-oriented industries and improve the modern industrial system.Developing new quality productive forces does not mean neglecting or abandoning traditional industries, Xi said, noting that it is necessary to prevent a headlong rush into projects and the formation of industry bubbles, and avoid adopting just a single model of development.China has made strides in boosting sci-tech innovation and industrial upgrading. Its global ranking in innovation has increased markedly over the past decade, while strategic emerging industries, such as new energy, high-end equipment and biotechnology, have taken a larger share in the national economic output."Developing new quality productive forces is an intrinsic requirement and an important focus of promoting high-quality development," Xi once said.Notice:The above content is transferred here just for information sharing.We respect your intellectual property right and your other lawful rights.As any content here violates any of your lawful rights, please contact us, and we will delete related content. 

    China's securities regulator pledges improved supervision standards, malpractice crackdown | News from Xinhua

    02-23, 2024

    BEIJING, Feb. 22 (Xinhua) -- The China Securities Regulatory Commission (CSRC) on Thursday said that it will guide the Shanghai Stock Exchange, the Shenzhen Stock Exchange and the China Financial Futures Exchange to strengthen their standards of supervision for abnormal transactions, and that it will crack down on illegal activities such as market manipulation and insider trading in accordance with laws and regulations.In a statement on its website, the CSRC said that these efforts are for maintaining the market's normal trading order."Regulatory authorities do not interfere with normal market transactions, and we seek to protect investors' rights to fair and free transactions in accordance with the law. However, we will resolutely crack down on illegal activities that disrupt the market trading order, in accordance with laws and regulations," the statement said.Recently, the Shanghai and Shenzhen stock exchanges took regulatory measures to crack down on the abnormal trading behavior of an institution in accordance with regulations, the CSRC statement said."That's fulfilling their trading supervision responsibilities, not limiting share selling," said the CSRC statement.On Feb. 19, the Shanghai and Shenzhen stock exchanges issued separate statements that named Lingjun Investment, a major quant fund, as an entity that had disrupted orderly market trading. The exchanges also announced penalties for the company, including open censure and a restriction on trading for a stated period of three days.Notice:The above content is transferred here just for information sharing.We respect your intellectual property right and your other lawful rights.As any content here violates any of your lawful rights, please contact us, and we will delete related content. 

    Longgang District Conference on the Promotion of the High-quality Development was Held (02.20)

    02-21, 2024

    On Feb.18, Guangdong Provincial Committee of CPC and the People’s Government of Guangdong Province held Guangdong Provincial High-quality Development Conference, for promoting innovation, making future plan, strengthening real economy especially the manufacturing industry, to promote Guangdong Province’s continuous high-quality development.On Feb.19, Shenzhen Municipal Conference on the Promotion of the High-quality Development was held, to make working plan and arrangement for the city’s high-quality development.On Feb. 20, Longgang District held the Conference on the Promotion of the High-quality Development.The conference gave the summary about Longgang District’s high-quality development in the year of 2023 and publicized Longgang District’s Ten Plans for the Promotion of the High-quality Development.Zhang Liwei -- the secretary of Longgang District Committee of CPC attended the conference and gave his speech. Wang Cefei -- the deputy secretary of Longgang District Committee of CPC and the head of Longgang District presided over the conference. Gong Zubing -- the director of the standing committee of Longgang District People’s Congress, Tang Xiangqun -- the president of Longgang District Committee of China People’s Political Consultative Conference, as well as other leaders and representatives, attended the conference.Zhang Liwei -- the secretary of Longgang District Committee of CPC stressed that the year of 2024 is the 75th anniversary of the founding of People’s Republic of China and is key for completing China’s Fourteenth Five-Year Plan. Making working plans and arrangement at the beginning of the year is of great significance.Longgang District should learn from Xi Jinping’s speech on the promotion of the high-quality development, follow the guidance from Guangdong’s and Shenzhen’s conferences on the high-quality development, and take actions to achieve the district’s high-quality development, to build the international, modern and innovative center in the east Shenzhen, and to make a contribution to China’s modernization, Zhang Liwei expressed.