BEIJING, May 4 -- China made significant strides in 2023 in its efforts to boost employment prospects for veterans, with a focus on the bolstering of policy support and services, according to the Ministry of Veterans Affairs.

In 2023, the tax and fee reduction threshold for self-employed veterans was raised from 12,000 yuan (around 1,689 U.S. dollars) to 20,000 yuan per year at the central level, with an additional 20 percent increase allowed at the discretion of local authorities, the ministry noted in a statement.

Additionally, a total of 264,000 jobs exclusively for demobilized military personnel were created through agreements with 69 enterprises in both the public and private sectors, aimed at facilitating veteran employment.

The ministry also highlighted a growing trend in veteran entrepreneurship. By the end of 2023, nearly 5.87 million business entities had been established by demobilized military personnel, marking an 18 percent increase from the previous year.

In 2023, the ministry actively supported 267,000 veterans in pursuing academic education and provided over 420,000 training opportunities for demobilized military personnel to enhance their employability.