2020 goal: 50 million new jobs
China will provide preferential policies and job training programs for targeted groups to produce 50 million new jobs by the end of 2020.
As part of efforts to keep the unemployment rate below 5 percent each year, the government will help the groups land jobs, especially college graduates and workers laid off due to overcapacity, according to guidelines released by the State Council.
Preferential policies for graduates include tax cuts and tuition fee reductions, if they are willing to work in distant rural areas.
The central government will launch special programs to help resource-intensive areas to relocate laid-off workers, according to the guidelines.
China will lay off 1.8 million workers in the coal and steel industries, according to the Ministry of Human Resources and Social Security.
An estimated 4.8 million job openings will be created by retirement each year during the 13th Five-Year Plan period (2016-20).