China's government hopes to generate as many as 13 million new jobs this year to help reverse an economic slump but faces “many difficulties and challenges," Premier Li Keqiang said. According to The Independent, forecasters say the Chinese government is likely to struggle to meet its official target of 5.5% annual economic growth, its lowest since the 1990s. The 5.5% growth would be down sharply from last year's 8.1% expansion. Premier Li Keqiang promised “pro-job policies” including tax and fee cuts totaling RMB 2.5 trillion yuan (USD 393.6 billion) for businesses, especially small entrepreneurs. He said if that works, “we are prepared to step it up.” China’s workforce is shrinking and has fallen by almost 5% from its 2011 peak. Keqiang said the total number of job seekers this year is forecast at 16.6 million, including a record 10.6 million university graduates. The government also needs to ensure almost 300 million rural migrant workers in cities have jobs, he added. The Chinese economy created 12.7 million jobs last year, up from 2021′s 11.9 million.