On October 25, the Ministry of Human Resources and Social Security held a news conference to report on the major developments in human resources and social security work for the first three quarters of 2024.

During the conference, spokesperson Chen Feng highlighted that throughout the first three quarters, various levels of human resources and social security departments have actively implemented the decisions made by the Central Committee of the Communist Party and the State Council. The focus has been on maintaining stability while seeking progress, leading to positive outcomes in employment and social security.

Regarding employment, the government has introduced the “Opinions on Implementing an Employment Priority Strategy to Promote High-Quality Full Employment,” which outlines 24 measures across six key areas. There has been a strong emphasis on advancing employment in the manufacturing sector and providing support for the growth of the aging economy. Special attention is being given to the employment of college graduates and youth by implementing a new round of employment and entrepreneurial support policies and launching targeted employment services. Initiatives such as the reintroduction of the unemployment insurance one-time subsidy policy have provided significant aid to businesses, with 9 billion yuan allocated to 170,000 companies, benefiting around 620,000 college graduates and young individuals. Additionally, 43,000 graduates have been dispatched to grassroots positions as part of various support programs.

Moreover, job assistance for those lifted from poverty has been prioritized, with 33.02 million of these individuals employed by the end of September. Local governments are focusing on providing training in key sectors including advanced manufacturing, modern services, digital economy, and green economy. A large-scale recruitment campaign has facilitated 46,000 online and offline job fairs, producing job postings for 17.2 million positions and helping over 100,000 key enterprises meet their workforce needs.

On the social security front, the Standing Committee of the National People’s Congress reviewed and approved a decision to gradually raise the statutory retirement age. National pooling of basic pension insurance for employees is progressing steadily, with transferred funds disbursed for the first three quarters. New provisional guidelines have been established for disease and injury allowances under basic pension insurance, expanding eligibility criteria. Progress in providing occupational injury insurance for new forms of employment is also encouraging, with 9.7865 million individuals insured by September.

As of September, 1.034 billion people were covered by basic pension, unemployment, and work injury insurance, marking significant annual increases. For the first nine months of 2023, total income for these three social insurance funds amounted to 6.1 trillion yuan, while total expenditures stood at 5.6 trillion yuan, resulting in a stable overall fund balance of 8.8 trillion yuan by the end of September.

In terms of talent development, the Ministry has established a regulatory framework for title assessments, fostering a supervisory system that includes government oversight, industry self-discipline, and societal supervision. The new eight-level vocational skills system has seen widespread adoption, with over 40,000 employers and training organizations registered. Progress also includes the selection for government special talent subsidies and the promotion of digital technology engineering projects.

Chen Feng concluded the session by emphasizing, “With just over two months remaining in the year, we are committed to diligently implementing the decisions of the Central Committee and the State Council. We aim to seize the year-end time window, using reform methods to overcome development challenges and strive towards achieving our annual objectives.”