17 May 2024
The Ministry of Human Resources and Social Security, the Ministry of Education and the Ministry of Finance issued the “Notice in relation to Facilitating the Employment and Entrepreneurship of Graduates and Youth” (“the Notice”) on 17 May 2024. The Notice proposed to support independent entrepreneurship and flexible employment and optimize the policies for employment subsidies and employment assistance. For enterprises that recruit college graduates (within 2 years of graduation) or unemployed youth aged 16 to 24, and settle their unemployment and work-related injury and basic pension insurance for at least 3 months, a one-off employment subsidy of up to RMB1,500 per employee will be provided to the enterprises. The Notice will be implemented from 17 May 2024 to 31 December 2025.