In an effort to boost employment, China has released a new five-year economic blueprint that looks to shift focus onto wage growth and the development of the vocational education system to help facilitate domestic demand and upgrade industry, reports the South China Morning Post.
Under the plan issued on Friday by the State Council, 55 million urban jobs are expected to be created by 2025 and the official urban unemployment rate capped at 5.5%, compared with over 50 million positions and a 5% jobless rate under the 2016-2020 plan.
In a first, the new plan also aims to “steadily raise” the share of wages in terms of GDP. And it contains a compulsory goal of an average of 11.3 years of education for the working-age population by 2025, up from 10.8 years in 2020.
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