Recently, nineteen departments, including the National Development and Reform Commission ("NDRC"), have distributed the Guiding Opinions on Developing the Digital Economy to Stabilize and Expand Employment (the "Opinions").
The Opinions expressly state that, the digital literacy of nationals is expected to reach the average level of developed countries by the end of 2025, along with the increasing development of the digital economy; at that time, the group of digital talents will grow larger steadily and the digital economy will evolve into an important channel for boosting employment. The framework of legal systems will be basically optimized to suit requirements on the employment in the digital economy field, and the capacity for digital services for public employment and business startups will be dramatically enhanced; also, human resources will be allocated with a significantly higher efficiency in the market, the employment scale continually grows and the employment quality turns better constantly. To this end, the Opinions outline several measures, including "accelerating creating new job opportunities in the digital economy field" and "continually improving digital skills of laborers". Moreover, the Opinions stress the need to vitalize innovations and entrepreneurship in the digital economy and create the fertile soil for potential employment growth. Furthermore, efforts will be made to deepen the reform in the New Third Board, steadily expand the scale of the pilot program of corporate bonds of innovation and entrepreneurship nature, support the investment of private equities and venture capital funds into the digital economy field, and boost the capacity of the capital market in backing the innovation and entrepreneurship in the digital economy.