A spokesman for the Chinese People’s Political Consultative Conference – China’s highest political advisory body – announced on Sunday that the economy and securing jobs for young people are a “major concern” ahead of the start of the Chinese parliament’s annual session in Beijing.
Thousands of lawmakers and political advisers from across the country will gather in Beijing on Monday for the start of the ruling Communist Party’s annual congress, known as the “Two Sessions.”
These meetings come at a time when the second largest economy in the world faces a set of challenges, including:
- The long-standing housing crisis.
- Low domestic consumption.
- Continued unemployment among youth.
Chinese People’s Political Consultative Conference spokesman Liu Jiayi said – in a press conference – that “economic issues are a source of great concern to our representatives,” adding, “Employment of young people, especially graduates, is a source of great concern.”
Beijing announced economic growth of 5.2% last year, one of the slowest rates of expansion of economic activity in decades.
The youth unemployment rate officially reached about 15% at the end of 2023, after the Census Bureau modified the methods for calculating this percentage.
The Census Bureau stopped publishing the politically sensitive unemployment rate for several months starting last summer, at a time when the unemployment rate rose to well above 20%.
Liu said that China’s economy still has good fundamentals and favorable conditions to promote high-quality development.
He added that the country also demonstrated its ability to withstand external shocks and internal difficulties.
