BEIJING, Sept 16 (PTI): As many as 120 million people are employed in booming private sector of China, which is now being recognised as the "main avenue of employment" by the government itself.
"The private sector of the economy is a main avenue of employment and re-employment in China," deputy minister of the State Administration for Industry and Commerce, Zhang Youping said.
Developing the private sector would help increase job opportunities and enable economic growth and employment to boost each other, he said. Released this month, the number of people absorbed by private sector is up 9.5 per cent compared to the same last year.
The deputy minister said labour-intensive firms and the service sector could absorb a lot of laid-off workers and college graduates.
Last year China's industrial and commercial departments helped 2.54 million unemployed people find jobs in the private sector, and nearly half of the country's new graduates entered private firms.
Chinese private sector 'main avenue of employment'
FE Team | Published: September 17, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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