Xi Jinping wants ‘high-quality jobs’ for China’s struggling youth
The Chinese president issued a call to action to address youth unemployment in a widely publicised article on Friday
President Xi Jinping has called upon Chinese officials to find solutions for the country’s prolonged unemployment issues, with the growing number of jobless youth becoming a formidable challenge for Beijing.
On Friday, the Communist Party theoretical journal Qiushi published an article featuring Xi’s speech from a Politburo study session earlier this year, where he called for “full, high-quality employment”, indicating that job creation remains a top priority.
“The unemployment rate may become a more important policy target,” said Zhang Zhiwei, president and chief economist at Pinpoint Asset Management. “I think [the issue] makes it more likely the fiscal deficit will rise above 3 per cent next year.”
The article shows unemployment is a matter of concern, he said, adding the government is likely to introduce policies to address it in the next year.
In the article, Xi noted China’s development faces risks and “a rise in unpredictable factors,” making stability in the economy and the job market more urgent.
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