Translation Tag: labor market
One of China’s top demographics and labor scholars analyzes how labor markets will be transformed by the emergence and industrial integration of artificial intelligence (AI). He provides several policy recommendations for Beijing to manage this transition with minimal social disruption. These include improvements to the social welfare system and household registration systems, both of which he sees as necessary to address inevitable disruptions to the human capital landscape.
The CCP Politburo holds “collective study sessions” on a semi-regular basis, in which an outside academic or government expert leads a discussion on a selected topic. Such sessions are important signals as to what issues the senior leadership finds important. The 14th collective study session of the 20th Central Committee Politburo was held on May 27, 2024 and was presided over by Xi Jinping. At this session, Xi delivered a speech emphasizing the need to expand employment, especially for college graduates and younger demographics more broadly, including through policy support for industries with high employment capacity and better aligning talent pipelines with such industries.
This decision unveils China’s three-child policy and supporting measures to combat population aging, which is framed as a serious challenge to the country’s future development. The change is contextualized as part of a broader policy agenda designed to improve the quality and affordability of childbirth and childcare services.
The CCP Politburo holds “collective study sessions” on a semi-regular basis, in which an outside academic or government expert leads a discussion on a selected topic. Such sessions are important signals as to what issues the senior leadership finds important. The fifth study session of the 20th Central Committee Politburo was held on May 29, 2023 and was presided over by CCP General Secretary Xi Jinping. At this session, Xi urged Party cadres to improve the quality and coverage of China’s education ecosystem, in part given its centrality to greater science and technology “self-sufficiency.”
Economist Cai Fang argues that problems in China’s labor market will hamper efforts to boost productivity in the years ahead. Cai examines the immediate impacts of COVID-19 and its aftermath on the labor market, concluding that as older workers and those in the informal sector exited the workforce, a “large portion of jobs lost to the epidemic cannot be expected to be regained.” In the long term, China will face deeper economic challenges as the growth in new workers slows. In addition, Cai argues that as growth becomes increasingly “innovation-driven,” there will be a surplus of workers who “do not have the human capital required for newly created jobs.”
Yao Yang, dean of the National School of Development (NSD) at Peking University, identifies three near-term challenges to China’s economic development. The first two—insufficient consumer demand and declining interest in real estate purchases — have both been affected by declining consumer confidence amid the COVID-19 pandemic and ensuing lockdown measures. The third challenge is the risk of recession in key export markets such as the United States and Europe, which may negatively affect Chinese exports. To address these challenges, Yao emphasizes the importance of policies designed to stabilize the real estate market, as well as measures to shore up consumer confidence (which he calls “more precious than gold”), such as direct payments to Chinese citizens. Yao suggests that Beijing should lead by example and implement a more “rational” approach to COVID-19 prevention and control. This speech was delivered to the China Economic Observation (CEO) conference just prior to the November 2022 protests across China opposing the Chinese government’s “dynamic zero-COVID” measures.
A prominent scholar at the Chinese Academy of Social Sciences argues that addressing barriers to social mobility is key to curbing rising income inequality in China and avoiding the middle income trap. He promotes hukou reform as a potential remedy, advocating for a change in “the method where the supply of public goods treat[s] people differently based on household registration status.”