G20 labor and employment ministers have agreed to encourage young entrepreneurs following a meeting in China.
Around 300 delegates, including ministers from G20 members and invited countries, as well as representatives from international organizations, gathered in Beijing for the G20 Labor and Employment Ministerial Meeting on Tuesday and Wednesday.
The main outcome was adoption of the Entrepreneurship Action Plan, as they identified entrepreneurship as a major opportunity to increase employment, said Yin Weimin, China's minister of human resources and social security, at a press conference on Wednesday.
They also analyzed the ramifications brought about by globalization, technology and population aging, Yin said.
"G20 economies agreed to carry out the action plan and create a policy environment for spurring entrepreneurship, especially among young people," Yin said.
They welcomed China's leadership in setting up the entrepreneurship research center for G20 economies, he said.
The meeting also adopted the G20 initiative to promote quality apprenticeships, which improve workers' skills in both theory and practice and meet the needs of the labor market.
The ministerial meeting was held in advance of the G20 Hangzhou Summit in September.
