China adds 10.52 million urban jobs in Jan-Sept, to roll out services jobs policy

Beijing, China, reported adding 10.52 million urban jobs in the first nine months of the year, fulfilling 87.7% of its annual job target, according to the labor ministry on Saturday. The ministry aims to bolster hiring in the services sector. The urban unemployment rate averaged 5.2% from January to August, with employment remaining stable, as stated by officials from the Ministry of Human Resources and Social Security during a press conference.

The labor ministry plans to collaborate with other departments on a policy document to promote employment growth through services sector development, allowing services to become the primary channel for job absorption, stated Vice Minister and spokesperson Li Zhong. Beijing will also maintain employment stability in labor-intensive industries while exploring new job opportunities in emerging and future industries, Li added.

By the end of September, 1.079 billion individuals were enrolled in basic pension insurance, while 251 million people had unemployment insurance coverage and 327 million were protected by work-injury insurance. The three social insurance funds collectively held a balance of 11.2 trillion yuan ($1.67 trillion).