Government Measures to Enhance Youth Employment and Entrepreneurship in China

The issue of employment and entrepreneurship among young people, particularly recent graduates, has garnered significant attention and support from the Chinese government. Recently, three key government departments—Human Resources and Social Security, Education, and Finance—jointly issued a notice detailing 17 initiatives designed to improve job prospects for fresh college graduates and youth. This move comes as the country anticipates an influx of 12.22 million new graduates in 2024, which represents an increase of 430,000 from the previous year.

To incentivize hiring, the new measures stipulate that social organizations employing recent graduates, those who have not secured jobs within two years, and unemployed youths aged 16 to 24 are eligible for the same financial subsidies as traditional companies. For each eligible hire, these organizations can receive a subsidy of 1,500 yuan, provided that they fulfill requirements such as signing standard labor contracts and contributing to social insurance. This specific policy will remain in effect until December 31 of this year. Furthermore, state-owned enterprises may apply for increased funding specifically allocated for hiring fresh graduates until December 31, 2026.

The government plans to facilitate the creation of more job opportunities by sending officials, as well as college representatives, to enterprises. This initiative will not only generate employment but also support entrepreneurial efforts by lowering the barriers for college graduates and young individuals entering government-sponsored entrepreneurship zones. Recognizing the importance of skill development for youth employment, the government aims to introduce 1,000 new sub-majors and vocational training programs in various disciplines across universities nationwide. These programs are intended to broaden students' knowledge and enhance their job-related skills beyond traditional academic pursuits.

Additionally, the initiatives will enhance internship offerings in fields like scientific research, engineering, and management. These opportunities are expected to come from various sectors, including private businesses, research institutes, and government agencies. The notice also outlines the availability of improved job services for recent graduates, including employment policy information, job search assistance, and internship recommendations for those struggling to find work.