BEIJING, April 18 (Xinhua) -- China announced a decision Wednesday to promote lifelong vocational training for workers to raise the quality of workforce and smooth economic transition.
The government will subsidize training programs and encourage private vocational schools, according to a statement released after a State Council meeting chaired by Premier Li Keqiang.
College graduates and young migrant workers will receive skills training to help them find jobs or start their own businesses.
"To push forward economic transformation and high-quality development, advanced equipment should be the foundation, and improvement of the quality and skills of workers should be the support," said the statement.
Workers will be given training during their whole careers, which will "help ease the shortage of skilled workers, increase total factor productivity, and move the economy to the medium-high end."
China will adopt a new-type of apprenticeship, foster highly-skilled workers, and give the innovative and skilled better incomes.
Capital support for vocational training will be improved with a financing mechanism raising funds from governments, businesses and private investors. "Government-subsidized programs will be open to all qualified vocational colleges and training institutions."
The meeting also agreed on tax breaks for cash bonuses to researchers for the commercialization of their research findings, including patented technologies, software copyrights and new bio-medicines.
The government expects the policy to stimulate innovation and enhance economic competitiveness.