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China's labor market was highly regulated and dominated by state-owned enterprises, with an average unemployment rate of 3.7 per cent between 1988 and 1995, but this rose sharply after numerous lay-offs between 1995 and 2002, reaching an average unemployment rate of 9.5 per cent between 2002 and 2009. [32]
As of 2024, China has the second largest equity markets and futures markets in the world, as well as the third largest bond market. [189]: 153 China's stock market exchanges include the Beijing Stock Exchange, the Shanghai Stock Exchange (including the STAR Market), the Shenzhen Stock Exchange, and the Hong Kong Stock Exchange. China's stock ...
One of the hallmarks of China's socialist economy was its promise of employment to all able and willing to work and job-security with virtually lifelong tenure. Reformers targeted the labor market as unproductive because industries were frequently overstaffed to fulfill socialist goals and job-security reduced workers' incentive to work.
Sentiment in China's stock markets — which entered 2024 in meltdown mode — has been massively bolstered by Beijing's September 24 announcement of aggressive stimulus to support its flagging ...
In China a full 78.3% of the urban labor force were employed in the public sector by 1978, the year the Chinese economic reform was launched, after which the rates dropped. Jin Zeng estimates the numbers were 56.4% in 1995 and 32.8% in 2003, [6] while other estimates are higher. [7] [8] [9]
12 January – 2024 Pingdingshan mining explosion: Ten people are killed and six others are missing after an explosion at a coal mine in Pingdingshan, Henan. [1]20 January – Yingcai Boarding School fire: Thirteen third grade children are killed and another is injured in a boarding school dormitory fire in Dushu, Henan Province.
The automotive industry in mainland China has been the largest in the world measured by automobile unit production since 2008. As of 2024, mainland China is also the world's largest automobile market both in terms of sales and ownership. The Chinese automotive industry has seen significant developments and transformations over the years.
Since their inception, SEZs have contributed 22% of China's GDP, 45% of total national foreign direct investment, and 60% of exports. SEZs are estimated to have created over 30 million jobs, increased the income of participating farmers by 30%, and accelerated industrialization, agricultural modernization, and urbanization. [26]