China reportedly plans incentives to tackle employment ‘uncertainties’

China will offer incentives aimed at encouraging firms to create and maintain jobs as it tries to head off “uncertainties” in employment, the official China Daily said on Thursday.

“No jobs means no wealth creation and possibly less social stability,” the newspaper quoted Premier Li Keqiang as saying during a meeting of the State Council on Wednesday.

It said the priority would be to find work for college graduates, veterans and laid off workers, and provide more vocational training.

New measures would be introduced to reduce labor costs, ease the burden on corporations and support more flexible types of employment, the newspaper said.

Citing figures from China’s human resources ministry, the report said the country created a record 6.13 million new jobs in the first five months of the year, up 140,000 compared to a year earlier.