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China Should Prioritise Service Sector To Boost Employment-Advisor

CHINA PRESS
MNI (Singapore)

China’s top priority is to optimise anti-pandemic measures to keep the flow of people and logistics smooth, and increase support for private and small businesses, in particular, transportation, catering, accommodation and tourism, Guan Tao, a former official and now chief economist at BOC Securities wrote in an article published on Yicai.com. The relatively severe unemployment issue is causing an uneven and unstable economic recovery, as the surveyed unemployment rate of 31 large cities recorded over 6% for three consecutive months since March, while the youth unemployment jumped to a new high of 18.4% in May, Guan added.

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China’s top priority is to optimise anti-pandemic measures to keep the flow of people and logistics smooth, and increase support for private and small businesses, in particular, transportation, catering, accommodation and tourism, Guan Tao, a former official and now chief economist at BOC Securities wrote in an article published on Yicai.com. The relatively severe unemployment issue is causing an uneven and unstable economic recovery, as the surveyed unemployment rate of 31 large cities recorded over 6% for three consecutive months since March, while the youth unemployment jumped to a new high of 18.4% in May, Guan added.