Topic
China has always placed a high priority on support for the jobs market, seeing a high level of employment as connected to overall social stability. In addition, the working element of the country’s 1.4 billion population is a key for driving economic growth. A major concern for Beijing is ensuring employment for the rising number of fresh university and college graduates who enter the work force every year, as well as the rising number of retires who need to be supported via the pension fund by those in employment. China provides an official surveyed unemployment rate for urban workers, although it is seen by some as being unrepresentative of the overall employment situation, as it does not include most of China’s 149 million self-employed business owners and nearly 300 million migrant workers.
Chinese President Xi Jinping has called for action amid fears that unemployment, particularly among the young, will damage the pace and quality of economic growth.
The flow of domestic migrants is increasingly moving in the direction of the Greater Bay Area, the Yangtze River Delta and a handful of local economic hubs.
Foreigners who endured three years of Covid-19 lockdowns are now leaving, blaming increasing wariness and even hostility towards them
Despite all the challenges it faced, Beijing recorded growth of 5.2 per cent last year and, by continuing on an innovative path, long-term prospects appear good.
- Average annual salary of executives at Chinese listed companies last year fell by 3.27 per cent, mirroring broader patterns of stagnating or falling wages
- Three top executives from struggling property giant Vanke have also agreed to reduce their salaries this year to 10,000 yuan (US$1,379) per month before tax
The executive reshuffle at Taobao and Tmall Group shows how Alibaba is adhering to calls made by company co-founder Jack Ma to ‘give more power’ to young people.
The International Monetary Fund points to China’s strong first-quarter numbers and property sector moves as the updated economic-growth estimate is brought in line with the government’s target.
President urges the record batch of upcoming graduates to seek employment in grass-root organisations, rural areas and small businesses, as greater emphasis is placed on supporting the private sector.
The departure of AI experts from these Big Tech firms reflects increased investor interest in start-ups that could become the next OpenAI.
Economic Daily calls on employers to be aware of gender, age and birthplace bias when using artificial intelligence to assess candidates.
With China’s job market in a period of contraction and uncertainty, the country’s internet users have crafted a set of terms to relieve the pressures of work – or not working – through wit and humour.
The lay-offs, which were announced internally earlier this week, are expected to affect TikTok’s operations and marketing departments.
Students with overseas undergraduate degrees in China earn an average first monthly salary about 2,700 yuan (US$374) below their expected income, according to a survey.
Economist Richard Koo’s theories influenced Western policy decisions after the global financial crisis, and now he has strong words for Chinese policymakers on the need for fiscal stimulus to ward off a ‘balance-sheet recession’.
Property investment in China fell again in the first four months of the year and retail sales growth cooled in April, but industrial output remained strong last month, data released on Friday showed.
China’s property investment fall accelerated in the first four months of the year, while retail sales growth slowed in April, data released on Friday showed.
Kingland Systems is closing its first subsidiary outside the US and sacking its entire local workforce, sources say.
The soaring rate of unemployment among China’s young people has once again come under the spotlight after a job advertisement for funeral workers attracted many candidates with degrees.
A meeting of political officials and experts has been convened to propose new ways to boost dropping fertility rates, as recent policies have made little headway in encouraging births.
Qu Jing’s comments endorsing an intense workplace culture sparked a public backlash in China, where people have been speaking out against damaging office practices at Big Tech firms.
Lingxi Games has discontinued its Ant Engine project, as parent Alibaba pares down investment in its non-core businesses.
More than 46 per cent of urban residents polled by People’s Bank of China say job market is ‘uncertain’, while 62 per cent aim to save more, in continued challenge for policymakers counting on domestic consumption to propel the economy.
Facing budget blowouts and new policy directions, local governments are finding ways to shed ‘iron rice bowl’ positions without mass redundancies.
China’s internet giants have slashed jobs in recent years, affecting tens of thousands of people, many of whom have decided to become entrepreneurs themselves, with mixed results.
This marks the domestic freight transport industry’s first attempt to cover truckers’ rights on a nationwide scale.
A South Korean university is launching a new associate degree programme exclusively for international students as it battles labour and population issues, with some also faced by China.
Around 30 people were laid off after Kuaishou Technology disbanded its video gaming studio in Beijing.
Creating enough jobs for its young people remains a daunting challenge for Beijing, with the key private sector struggling to shake off scars of the coronavirus pandemic.
Mainland China’s tech sector is bracing for a new round of job cuts at Ericsson, Tesla, Amazon.com and Intel.
Richard Liu Qiangdong’s avatar is expected to host more live-streaming shows in the future, as JD.com touted that its AI-powered virtual streamers cover more than 4,000 brands.
China’s widely watched gross domestic product (GDP) figure beat expectations in the first three months of the year, but retail sales growth dropped in March and property investment fell by 9.5 per cent in the first quarter.
