Full coverage: G20 Hangzhou Summit

G20 Labor and Employment ministers have called for job creation through entrepreneurship and innovation. The ministers held a 2-day meeting in Beijing ahead of the G20 Summit in September. Major results from the meeting include an Entrepreneurship Action Plan and plans for a quality apprenticeship system, both aimed at helping to boost youth employment.

Chinese Minister of Human Resources and Social Security Yin Weimin (C) attends a press conference of the G20 Labor and Employment Ministerial Meeting in Beijing, capital of China, July 13, 2016. G20 labor and employment ministers have agreed to encourage young entrepreneurs following a meeting in China. (Xinhua/Shen Bohan)

Finding new engines to drive job growth. The 2016 G20 Labor and Employment ministers meeting is calling for combining business start-ups with creating jobs, to advance employment with entrepreneurship and innovation.

"The G20 Entrepreneurship Action Plan is the core outcome of the meeting. The meeting's declaration points out that entrepreneurship offers an important driver for decent work, creativity, innovation and economic growth. A large number of people enter the labour market across the G20 economies, including many highly educated young people, who possess competencies necessary to start businesses," Minister for China's Human Resources & Social Security Yin Weimin said.

China will establish a G20 economies entrepreneurship research center to help with communication and information sharing.

Meanwhile, countries have pledged to create a favorable policy environment to help unleash the potential of young people in setting-up their own business.

"It's the share the believe of the G20....job challenge is indeed monumental," Hao Bing, Dept. director of China's Ministry of Human Resources & Social Security, said.

To further help young job-seekers, the meeting advocates establishing a quality apprenticeship system as an additional approach for skills training.

"We always attach great importance to skills development. We have already adopted the G20 training and skills strategies. This year, we've also adopted the initiative to promote quality apprenticeship, through which we hope to help young people make the transition from school to the work place," Yin said.
 
Ministers also agreed to adopt pro-employment policies according to each country's national situation. And for the first time in the meeting's history, it gives a package of policy recommendations on social protection.

With more than 100 million people still unemployed in the G20 economies, and weak labor market performance, the governments need to find fresh driving forces for economic and social development. It's not only the focus for this ministerial meeting, but is also expected to be a major topic at the G20 Summit in September.