A leading Chinese think tank has highlighted the role of new quality productive forces in driving economic growth and addressing youth unemployment in China. Du Yang, director of the Institute of Population and Labor Economics at the Chinese Academy of Social Sciences, shared insights during an interview with CGTN.
“By improving labor allocation and fostering innovation, these new productive forces will enhance total factor productivity,” Du Yang explained. “This approach will reduce structural unemployment and create more job opportunities for young workers.”
The emphasis on innovation and efficient labor utilization is seen as a crucial strategy for China to navigate the challenges of a shifting global economy. As the nation continues to develop, aligning the skill sets of the workforce with emerging industries becomes increasingly important.
Experts believe that focusing on quality over quantity in productive forces will not only stimulate economic growth but also provide sustainable employment solutions for the younger generation. This approach aims to bridge the gap between education and industry demands, ensuring that young professionals are equipped for the jobs of the future.
The insights from the Chinese Academy of Social Sciences offer a roadmap for policymakers and business leaders to collaborate in creating a dynamic economy that leverages the potential of its youth.
Reference(s):
Think tank: New quality productive forces boost youth employment
cgtn.com
