China has announced plans to reduce fees and taxes for businesses ahead of the graduation season, according to a joint circular released Friday.

Issued by the Ministry of Human Resources and Social Security and the Ministry of Finance, the circular outlines a 16-point plan to stabilize youth employment as a record 12.7 million university graduates enter the job market this year.

The document details measures to encourage hiring, including social insurance subsidies and tax reductions. Authorities said they will streamline policy delivery to ensure businesses can benefit quickly, with a particular focus on private-sector recruitment in advanced manufacturing and modern services.

The plan launches the fifth round of a program that sends graduates to grassroots posts in rural areas. Local governments are encouraged to create additional community-level positions aligned with rural vitalization and local governance needs.

Authorities will also roll out subsidized internships for 2026 graduates who remain unemployed after leaving school, along with registered unemployed youth. Programs will provide training and quality internships in emerging sectors, supporting skill development and employment opportunities.

The circular mandates targeted assistance for jobless graduates from low-income families, zero-employment households, families at risk of returning to poverty, and graduates with disabilities.

Authorities also pledged to crack down on illegal recruitment practices, focusing on false advertising in online job postings.