More Jobs Created

China’s quarterly job report delivered a positive message as 3.34 million new jobs were created and the unemployment rate fell to 3.97 percent in the first quarter of 2017. The number of new jobs was 160,000 higher than that in the same period last year, official data showed. “China’s job market posted a strong start this year and remained stable in the first quarter,” said Lu Aihong, Spokesperson of the Ministry of Human Resources and Social Security, at a press conference. Economists said the lower jobless rate suggested a healthier picture of the Chinese economy. “The need for workers is particularly pressing in the manufacturing sector,” said Zhang Yizhen, Vice Minister of Human Resources and Social Security. firms to regulate the activities of different bodies, the guideline stressed. Although most state firms already have established corporate systems, problems such as unclear responsibilities and lack of checks and balances still exist, the State Council noted. China hopes to boost the efficiency of SOES, make them operate in accordance with market rules and assume responsibility for their own profits, losses and risks, according to the guideline, which set a goal of basically completing the reforms by the end of 2017.