Great news for job seekers! China's employment market is bouncing back stronger than ever after the Spring Festival, thanks to the powerhouse of private enterprises.
The All-China Federation of Industry and Commerce released the \"China Private Enterprises Social Responsibility Report (2024)\", showcasing how private businesses are the backbone of employment stability in 2023. 📈
With over 53 million private enterprises nationwide, making up 92.3% of all businesses, these companies have been pivotal in creating more than 90% of the newly added urban jobs. The report highlights a 9.5% increase in employment within surveyed private companies, reaching a whopping 5.7 million employees.
Focusing on Guangdong Province, the private sector here is on fire! By the end of 2024, there are 18.4 million registered private economic entities, accounting for 96.5% of all businesses in the province. These enterprises contribute to over 50% of Guangdong's GDP, 60% of its trade volume, 70%% of tax revenues, and a staggering 80%% of its technological innovation and employment. 💡💼
To keep this momentum going, Guangdong kicked off the first working day after the Spring Festival with a high-energy provincial meeting, prioritizing high-quality development for 2025. The Guangdong Provincial Development and Reform Commission has also set up a new bureau focused on private economic development to further boost employment initiatives. 🌟
Exciting times ahead as the private sector continues to drive growth and create opportunities in one of China's most dynamic regions!
Reference(s):
Private sector fuels employment growth in China's Greater Bay Area
cgtn.com
