China hopes to generate 13 million new jobs in 2022 amid slowing economy

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China hopes to generate as many as 13 million new jobs in 2022, despite a slowing economy. Premier Li Keqiang said pro-job policies will be introduced, including tax and fee cuts amounting to US$400 billion for businesses. However, he also cautioned that it will not be easy for the country to achieve its GDP growth target for the year. China’s economic growth slid to 4% in 4Q2021, down from the full year’s expansion of 8.1%. It has already cut its annual GDP target to around 5.5% — the lowest level in decades.

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