China's human resources authorities are mulling measures to actively harness AI in creating new job opportunities and empowering traditional jobs, an official said Saturday.
Employment potential will be unleashed in sectors such as digital economy, high-end manufacturing and modern services, Minister of Human Resources and Social Security Wang Xiaoping told a press conference on the sidelines of the annual session of the national legislature.
"We will strengthen guidance through planning, and build an employment-friendly development mode. We are working with relevant departments to formulate a special employment plan for the 15th Five-Year Plan period, including a series of practical, effective and high-value major employment policies and action plans, to enhance the driving force of employment to development," the minister said.
"At present, artificial intelligence is developing rapidly, which has a profound impact on employment and is of great concern to everyone. We are studying relevant policies to actively leveraging the role of artificial intelligence in creating new jobs and empowering traditional ones, so as to promote inclusive development that coordinates technological progress with improvement of people's livelihood," she said.
China to harness AI in creating new jobs: minister
China's cross-border receipts and payments by non-banking sectors totaled 1.5 trillion U.S. dollars in August, sustaining its rapid growth trend this year, the State Administration of Foreign Exchange said Tuesday.
A highlight of the report is the net cross-border capital inflows in the past month, reaching 62.4 billion U.S. dollars, up 4 percent from July. Goods trade ranked among the largest net inflow sectors, while two-way direct investment remained broadly stable, according to the data.
Wang Yifeng, deputy director of the Everbright Securities Research Institute, said the figures underscore the resilience of Chinese market amid global financial disruption.
"The August data evidence the robustness and resilience of China's foreign exchange market. Against the backdrop of increased volatility in the external financial environment, China's cross-boarder receipts and payments maintained the momentum of relatively rapid growth. Outstanding is the relatively large net inflow of goods trade, which continued to function as the ballast stone, reflecting that the fundamentals of China's foreign trade competitiveness remain solid. The two-way direct investment was largely stable, showing that medium- and long-term capital remains optimistic about the Chinese market and that foreign investment is still glued to China," he said.
Trading activity in the domestic foreign exchange market also rose steadily, reaching 3.9 trillion U.S. dollars in August. Banks recorded a surplus of 48.5 billion U.S. dollars in foreign exchange settlement and sales, driven mainly by net inflows. The settlement rate of enterprises' foreign exchange income stood at 61.5 percent, indicating stable willingness to both convert and hold foreign currency, with market expectations generally calm.
Net settlement of foreign exchange by banks on behalf of clients under goods trade climbed to 74.6 billion U.S. dollars in August, up about 23 percent month on month, as a weaker dollar and strong exports kept cross-border capital flowing in. The share of cross-border RMB receipts and payments rebounded above 50 percent, marking greater use of local currency settlement that helps foreign trade companies reduce exchange rate risks, experts noted.
China sustains cross-border receipts, payments growth in August
