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☆ China is getting hyped over a suggestion that people get more than 5 days of paid time off
▼ + stars: | 2024-03-06 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

Current laws give employees five days of annual paid time off, which increases to 10 days after they have worked 10 years, and 15 days if they have worked for 20 years or more. Fok's proposal would let young workers scale their annual leave from five to 10 days until they hit the 10-year mark. His suggestion sparked hopes on Weibo, China's version of X, that the country might soon align with international paid leave standards. The International Labor Organization recommends three weeks of paid annual leave. AdvertisementShanghai-based outlet The Paper ran an informal poll on Tuesday, asking if its readers felt they could take vacation days.

Persons: —, Kenneth Fok, Fok, we've, Jack Ma Organizations: Service, People's, China Youth, International Labor Organization, China, Daily, Business, Ministry of Human Resources, Social Security, Pew Research Center Locations: China, Hong Kong, Kong, Beijing, Weibo, Shanghai

☆ China's food delivery gig workers are driving a $208B business, but couriers have it as bad as factory workers
▼ + stars: | 2024-03-03 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. However, the laborers behind the surging industry face conditions similar to those in the country's factories, facing low wages, long hours, and risky, repetitive work, according to numerous reports. Lu, a 19-year-old Meituan delivery driver in Guangzhou, told Nikkei Asia he earned just 7 yuan per delivery, less than a dollar. In the US, delivery drivers average $17.10 per hour, according to the Bureau of Labor Statistics. They "know it is impossible to deliver in the time expected by the platform," Tiziano Bonini from the University of Siena, who has been studying gig work in China, told the outlet.

Persons: —, Lu, Meituan, Didi Chuxing, SCMP Organizations: Service, Nikkei Asia, Business, Economic Research, Wired, Bureau of Labor Statistics, China Morning, Ministry of Human Resources, Social Security, University of Siena Locations: China, Guangzhou, Guanzhou, Shanghai

Liu got the librarian job after a government-led campaign to secure temporary work for graduates, which analysts describe as a short-term solution to preserve social stability in a slowing economy with little on offer for young Chinese. Such "welfare jobs," as they are known in China, include roles as receptionists, office administrators, security guards and community workers. Various government institutions offer such jobs every year, but they had usually drawn applications from disadvantaged groups, such as elderly or disabled people. But state media editorials have also encouraged young graduates to take lower skilled jobs. Reuters GraphicsThe total take-up of short-term jobs and internships remains unknown, but social media posts commenting on the selection process and discussing career options are frequent and analysts expect such roles will be in demand in a slowing economy.

Persons: Peter Liu, Liu, Wang Jun, joblessness, Mao Zedong, Chen, Graphics Liu, Kripa Jayaram, Ellen Zhang, Shri Navaratnam Organizations: Reuters, Human Resources, Social Security, Huatai Asset Management, Graphics, Beijing, Thomson Locations: BEIJING, HONG KONG, Beijing, Henan, China, Chongqing

Exports and factory output in the world's second-largest economy tumbled in May, as looming downturns force the United States and Europe to pare back orders for goods made in China. Some factories closed or are struggling to pay wages or severance for laid-off workers as a result, according to Chinese labour researchers. "We believe that the drop in manufacturing orders and that factory closures will continue," said Aidan Chau, researcher at Hong Kong-based rights group China Labour Bulletin (CLB). Labour unions were central to the Communist Party's proletariat beginnings but play only a marginal role in modern authoritarian China. However, some analysts say factory strikes could become a political headache for the Party.

Persons: pare, Aidan Chau, CLB, Dian, Xin Dian, Zhong Min, Xu Tianchen, Xu, Laurie Chen, Nicoco Chan, Marius Zaharia, Sam Holmes Organizations: China Labour Bulletin, Min, Goods Shenzhen Ltd . Co, Dian Cable Ltd . Co, Reuters, China's Ministry of Public Security, Ministry of Human Resources, Shenzhen, China Federation of Trade Unions, Manufacturers, Workers, Security, Labour, Party, Economist Intelligence Unit, Thomson Locations: BEIJING, United States, Europe, China, Hong Kong, Guangdong province, Shenzhen, Communist, Beijing, Shanghai

☆ China's youth unemployment hits a record high, deepening its economic scars
▼ + stars: | 2023-05-29 | by ( Clement Tan | ) www.cnbc.com time to read: +6 min

In this article GSBDGS Follow your favorite stocks CREATE FREE ACCOUNTChina's young face the prospect of dimmer economic gains amid record youth unemployment in the world's second-largest economy. "The expansion of college education in the late 1990s created this huge influx of college graduates, but there is a misalignment between demand and supply of high skilled workers. "Increasingly, college graduates are taking up positions that are not commensurate with their training and credentials to avoid unemployment," Lu told CNBC. China's young face the prospect of dimmer economic gains amid record youth unemployment in the world's second-largest economy. "But the plan was for China's economy to transform from labor-intensive industry to more technological, with a strong service-oriented, knowledge economy," Yeung added.

☆ China launches recruitment drive for college graduates
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +1 min

The recruitment drive, hosted by the Ministry of Human Resources and Social Security, will last from Sunday to May 26, Xinhua said. The government aims to keep survey-based jobless rate of around 5.5% this year. During the first 10 days of the recruitment drive, 19 offline job fairs, eight cross-region job fairs and job fairs featuring sectors such as manufacturing, medicine and health, Internet and electricity and new energy will be hosted, Xinhua said. China's survey-based jobless rate was 5.6% in February, but for 16-24 years old it was 18.1%, National Bureau of Statistics data showed. A rise in the jobless rate in February was due to seasonal factors, the bureau said.

☆ China to raise retirement age to deal with aging population - media
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, March 14 (Reuters) - China is planning to raise its retirement age gradually and in phases to cope with the country's rapidly aging population, the state-backed Global Times said on Tuesday, citing a senior expert from China's Ministry of Human Resources. Jin Weigang, president of the Chinese Academy of Labor and Social Security Sciences, said China was eyeing a "progressive, flexible and differentiated path to raising the retirement age", meaning that it would be delayed initially by a few months, which would be subsequently increased. "People nearing retirement age will only have to delay retirement for several months," the Global Times said, citing Jin. China has yet to formally announce a change to its retirement age, which is among the lowest in the world at 60 for men, 55 for white-collar women and 50 for women who work in factories. The state-run Chinese Academy of Sciences sees the pension system running out of money by 2035.

[1/5] Elderly visitors enjoy the sunshine, at a nursing home of Lendlease's Ardor Gardens in Shanghai, China February 27, 2023. Lim says "stigma" around retirement homes in China is quickly disappearing. About 4% of people aged 65 and over in Britain live in retirement homes, according to information service Lottie. Ding Hui, China managing director at Australian real estate firm Lendlease (LLC.AX), expects demand for retirement homes to rise sharply in the next five to 10 years. Government-run nursing homes with basic facilities in Shanghai and Beijing are much cheaper, at about 2,000 yuan ($290) a month.

[1/7] Farmer Wang Zhanling sits next to his wife in their house in Quansheng village, Heilongjiang Province, China, February 8, 2023. The state-run Chinese Academy of Sciences sees the pension system running out of money by 2035. "If the pension system does not change, this is unsustainable," said Xiujian Peng, senior research fellow in the Centre of Policy Studies at Victoria University in Australia. The province has the lowest birth rate in China, with just over 100,000 births in 2021 and 460,000 deaths. Many experts, including Macquarie's chief China economist Larry Hu, suggest implementing a unified national pension system, backstopped by the more resourceful central government rather than cash-strapped local administrations.

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