One of the goals set in the Government Work Report delivered by Premier Li Keqiang in the “Two Sessions” is to create no less than 11 million new urban jobs this year, with a surveyed urban unemployment rate being kept at approximately 5.5 percent. This target is in line with the one set in 2019 prior to the outbreak of COVID-19, which demonstrates the central government’s confidence in the economic recovery followed by a significant improvement in employment conditions this year. In addition to the impact of unexpected events such as an epidemic, economic cycles and economic structural changes, unemployment has also been affected by a misalignment of professions and work skills in recent years.
The modern world is characterized by constant change. Technological innovation has ushered in the Industry 4.0 era, which is the Fourth Industrial Revolution centered on interconnectivity, automation, AI machine learning, real-time data, etc. If enterprises, who are all facing tremendous change in their business environment, want to thrive, they will need to think out of the box and switch to businesses, services or even business models associated with Industry 4.0.
Industry 4.0 is rapidly penetrating all walks of life. If companies do not adapt and change, crisis will ensue. Similarly, talent which cannot master new knowledge will lose its competitiveness in the workplace, or even gradually be knocked out from its profession. The knowledge administered to university graduates deteriorated at an alarming rate in the past decade. There are about 9 million university graduates in China every year, the destiny of these graduates and the country hinges on whether universities can adapt to the new course of education in a timely manner, which is invariably centered on innovation and smart technology. An important topic would be to match the skill set of undergraduates and postgraduates with the new development pattern of the country, which would hopefully allow the country to overtake its competitors if this is done aptly.
In an era characterized by rapid change, forecasting the future by using today’s perspective does not keep up with the times. Previous knowledge and experience are insufficient to help students cope with future challenges. Leaders in education must be prescient, forward-looking and flexible in their approach, so that students will be cultivated to create new trends. Universities systemically admit students on a yearly basis, and students choose their own major with a 4-year study cycle. Therefore, it is recommended that universities adjust their lecture materials and research methodology according to the latest international standards every two to three years. This will not only ensure a bright career starting point for the 9 million annual graduates each year, but also contribute to advancing the country’s new economic development pattern, as well as avoiding an increase in unemployment rate due to misalignment of professions with work skills.
Although China is a developing country, it has the advantage of being a latecomer
We must not only drive the economy with innovation, but also dedicate to job creation which will enable citizens to share the fruits of development. With the increase in income per capita, it will propel the country to become a world power. Although China is a developing country, it has the advantage of being a latecomer. Overtaking competitors at a critical juncture has become a global trend in the internet era, examples include digital economy and platform economy. At the same time, artificial intelligence (AI) also provides excellent opportunities for China to leverage its population size and colossal basket of internet users. Therefore, many companies in China are trying to move up the industrial value chain by taking advantage of AI. However, as we know, AI can lead to massive unemployment, which inevitably is a challenge that we need to tackle in the future. Therefore, we must plan ahead and prepare for the challenge. More colleges with industrial features should be established to meet the needs of the new economic development pattern of Industry 4.0. Training on “digitization” should be provided to the working class and people who wish to switch to technology-related sectors. Meanwhile, we should encourage the collaboration between web-based companies, professional institutions and other higher education institutions to provide practical training on skills such as operation of We-Media, online marketing, e-sports, etc. Moreover, we should reward new inventions and innovations, support startups and encourage young people to embark on entrepreneurship.
The author is a member of the National Committee of the Chinese People’s Political Consultative Conference.