The number of new jobs created in China this year is expected to surpass 13 million after the country's economy added 10.82 million new jobs during the January-September period, state media reported.

The official Xinhua news agency, quoting the labor ministry said, the actual new jobs this year will even outstrip the official employment target set by the government despite the slower economic growth that China is currently experiencing.

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The latest employment projection for this year is important for the reform-minded leaders of China. Chinese leaders believe that healthy employment levels is a top priority and an important factor that promotes social stability.

Chinese leaders earlier said that while GDP data and other economic data are important, employment data is a top priority because it directly affects the lives of the Chinese people.

The official government target for new jobs this year was already achieved in September, where the labor ministry said 10.82 million new jobs were created. China aims to keep its urban unemployment rate to below 4.6% this year.

The latest employment figure was released as China's economic growth weakened to 7.3% in the July-September period, prompting analysts to believe that China could miss the government's 7.5% target.

Meanwhile, finance and banking professionals in China's tier-1 cities earn 21 percent more than their counterparts in tier-2 cities, a survey jointly conducted by British recruiting firm Hays Recruiting and HR service provider Zhaopin showed.

Finance professionals in tier-1 cities earn an average of Rmb11,933 (US$1,925) per month while those in tier-2 get an average of  Rmb9,896 (US$1,592).

The survey also showed that salary gap in the banking industry was highest at 36%. Fund and investment sector followed at 25% while salary gap in the insurance industry was at 5%.

The said survey polled 1,066 people in nine Chinese cities.

TagsChina employment, China New Jobs