New-Item, Remove-Item, and Get-ChildItem have been enhanced to support creating and managing symbolic links. The -ItemType parameter for New-Item accepts a new value, SymbolicLink. Now you can create symbolic links in a single line by running the New-Item cmdlet.
What’s New in Windows PowerShell v5
I’ve checked the symlink support on the my Windows 7 machine, it’s works fine.
PS> New-Item -Type SymbolicLink -Target C:\ -Name TestSymlink
Directory: C:\Users\skokhanovskiy\Desktop
Mode LastWriteTime Length Name
---- ------------- ------ ----
d----l 06.09.2016 18:27 TestSymlink
Get target of the symbolic link as easy as to create it.
> Get-Item .\TestSymlink | Select-Object -ExpandProperty Target
C:\