Retirement age raise has mild effect on youths' employment

China's progressive campaign of raising the retirement age will bring mild effects to the young generation's employment, and the nation will continue to prioritize the youth's employment to let it grow with reasonable quantity and higher quality, said senior officials. "Postponing the retirement age will be carried out in a steady and modest pace, and positions vacated by the retired people may not be that suitable for the youth's needs, so the new retirement policy has a mild effect on youths' employment," said Li Zhong, vice minister of human resources and social security, at a news conference in Beijing on Friday. He said that the government has stressed high-quality employment of the young people, and will keep channeling efforts to develop more job opportunities appealing to youths' needs. "We will also improve the employment services and encourage companies to offer more job openings or internships to the youths by giving the company's financial incentives or tax reductions.