Du Yang, director of the Institute of Population and Labor Economics at the Chinese Academy of Social Sciences, shared insights with CGTN on how emerging productive forces are set to drive economic growth in the Chinese mainland. These new quality forces are pivotal in addressing the pressing issue of youth unemployment.
By improving labor allocation and fostering innovation, these productive forces aim to enhance total factor productivity. This strategic approach is expected to reduce structural unemployment, creating more job opportunities for young workers and contributing to a more resilient economy.
The focus on innovation not only boosts economic performance but also ensures that the younger generation can secure meaningful employment. This initiative highlights the importance of adapting to evolving market demands and investing in sustainable growth to support youth as they enter the workforce.
Reference(s):
Think tank: New quality productive forces boost youth employment
cgtn.com
