New jobs are reforms' dividend
One of the brightest points of China's recently released economic data for the first three quarters is that its employment situation is better than expected.
Such a heartening performance is inseparable from the importance the central government has attached to the employment issue, as indicated in Premier Li Keqiang's government work reports of the past three years and numerous meetings of the State Council, China's Cabinet.
That China has managed to create so many new jobs, despite the profound global economic adjustments and numerous difficult and uncertain factors facing the economy, testifies that there is enough elasticity in its economy despite its slower GDP growth. The better-than-expected employment situation is also proof that China's economic development is on a right road and on a sound footing.
