As governments across China roll out new measures to boost employment and entrepreneurship on the back of an AI-driven tech boom, many young people, worried that weak demand and a sluggish economy make starting a business too risky, remain drawn to stable government jobs.
Seven central government ministries, including the Ministry of Human Resources and Social Security and the Ministry of Education, issued a joint guideline late last month urging local governments to promote employment through entrepreneurship.
The initiative targets groups with high unemployment rates, including recent university graduates, migrant workers and retired military personnel.
The guideline calls for the rapid development of specialised training programmes in emerging sectors such as the digital economy, artificial intelligence, the green economy, and the “silver-hair” economy that caters to the growing ranks of the elderly. It also emphasises enhancing entrepreneurial skills through innovative “skills + entrepreneurship” training models.
It highlights the importance of government guidance and market orientation, encouraging the flow of venture capital and other resources into business incubation platforms to foster high-quality small and medium-sized enterprises and create jobs. Financial support will be made available to university students and recent graduates who translate innovations into viable businesses.
President Xi Jinping emphasised the importance of the tech sector at a high-profile meeting with leading Chinese entrepreneurs in Beijing last month.
