China’s Employment Challenges and Strategies after the WTO Accession

Although China has made impressive progress in economic development and improving social well-being, it is facing many daunting challenges while transforming toward a knowledge and service-based economy and further opening up to international competition after its WTO accession in the context of knowledge revolution. One of the biggest challenges is how to create 100-300 million new jobs in the coming decade to absorb the millions of laid-offs, rural emigrants and newly added labor force. China has been successful in building high-tech parks and ICT industries, but they are limited in terms of employment generation, while most of the traditional labor-intensive industries are losing competitiveness due to low productivity. In order to combat the unprecedented employment challenge, China must implement a systemic and sustained strategy, which may consist of the following policy thrusts: encouraging the private sector; promoting small and medium enterprises; expanding the service sector; reforming the state-owned enterprises; strengthening the social security system; improving labor market flexibility; and establishing mass retraining programs.

Bibliographic Details

Main Author:	Zeng, Douglas Zhihua
Language:	English
Published:	World Bank, Washington, DC 2005-02
Subjects:	ACCOUNTING, ACCOUNTING SYSTEMS, ARABLE LAND, ASSETS, CAPITAL INVESTMENT, CITIES, COMPARATIVE ADVANTAGE, DEVELOPED COUNTRIES, ECONOMIC ACTIVITY, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMICS, EMERGING MARKET ECONOMIES, EMERGING MARKETS, EMPIRICAL STUDIES, EMPLOYMENT, ENTREPRENEURSHIP, FINANCIAL INSTITUTIONS, FINANCIAL MANAGEMENT, FINANCIAL SERVICES, FOREIGN BANKS, FOREIGN ENTRY, IMPORT TARIFFS, IMPORTS, INNOVATION, INSURANCE, JOB CREATION, KNOWLEDGE ECONOMY, LABOR FORCE, LABOR MARKET, LABOR MARKET FLEXIBILITY, LABOR PRODUCTIVITY, LABORERS, LEGAL FRAMEWORK, LEGISLATION, LEVEL PLAYING FIELD, MARKET ECONOMIES, MARKET ECONOMY, MARKETING, METALS, MIGRANTS, MIGRATION, NATIONAL INCOME, NET PROFIT, NEW ENTRANTS, PARTNERSHIP, POLICY ENVIRONMENT, PRIVATE PROPERTY, PRIVATE SECTOR, PRIVATIZATION, PRODUCTIVITY, PROFITABILITY, PROPERTY RIGHTS, PUBLIC HEALTH, PURCHASING POWER, REFUGEES, SAFETY, SAFETY NET, SERVICE INDUSTRIES, SOCIAL DEVELOPMENT, SOCIAL SERVICES, STATE ENTERPRISES, STATE PROPERTY, TAXATION, TECHNICAL ASSISTANCE, TOBACCO, TRADE REFORMS, TRANSPORT, TURKEY, UNEMPLOYED PEOPLE, UNEMPLOYMENT, URBANIZATION, WORKERS,
Online Access:	http://documents.worldbank.org/curated/en/2005/02/5642284/chinas-employment-challenges-strategies-after-wto-accession https://hdl.handle.net/10986/8840
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