(Yicai Global) Oct. 23 -- China's unemployment rate fell to 3.95 percent in September, marking the lowest rate in recent years, Yin Weimin, Minister of Human Resources and Social Security, said at a press briefing on Oct. 22.

The country has created some 10.97 million new jobs this year, marking annual growth of 300,000 positions.

Job creation over the past five years has now reached 65 million jobs, though the country still needs to create 15 million new positions annually, Caijing Online said.

China has established the world's largest social security network, Yin added. The system covers over 900 million statutory people with endowment insurance and covers all citizens with medical insurance.