China Targets Urban Jobless Rate Below 5 Percent

China will aim to keep its urban registered unemployment rate below 5 percent between 2016 and 2020, under a plan released on Thursday by the Ministry of Human Resources and Social Security. It said the country will aim to create job opportunities for more than 50 million people in cities during the period. 
China's urban registered unemployment rate stood at 4.05 percent at the end of June, according to Xinhua news agency. 
The ministry acknowledged that China would be under pressure to ensure employment as its policies to cut industrial overcapacity lead to job losses. 
The plan promised employment more services and support, especially for college graduates and workers that have been made redundant in the industrial restructuring. 
In the next four and half years, about 15 million young people, mostly college graduates, will be looking for jobs in cities every year, Minister of Human Resources and Social Security Yin Weimin said.