China’s economy has demonstrated resilience in 2024, with projections indicating a trade surplus exceeding $1 trillion and GDP growth approaching 5%, despite ongoing trade tensions with the United States. However, underlying vulnerabilities persist, including deflationary pressures, youth unemployment, and currency fluctuations. A growing concern centers on the nation’s expanding contingent labor force, which now includes over 200 million individuals engaged in freelance, delivery, ride-sharing, and other short-term roles.
While many of these workers earn around 6,000 yuan ($830) monthly, their employment lacks stability and social protections. Without access to health insurance, pensions, or unemployment benefits, they are highly vulnerable to income loss due to illness or job disruption. One Beijing-based delivery worker, Qin Fengjun, noted that earning 10,000 yuan ($1,400) without safety nets offers little security, as sudden setbacks can erase financial gains.
At the Central Economic Work Conference in December, Chinese officials discussed measures to encourage gig workers to enroll in social insurance programs. Yet, current participation remains limited, raising concerns about long-term economic stability. With a significant portion of the workforce operating outside formal employment structures, the economy risks increased fragility, particularly as Beijing aims to sustain growth and reduce inequality.
Experts warn that failing to integrate flexible workers into the social safety net could undermine broader development goals. As automation and digital platforms reshape labor markets, ensuring basic protections for non-traditional employees will be crucial to maintaining social cohesion and economic resilience.
— news from upi.com