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China urges SMEs to hire college graduates
CGTN
College graduates of Zhejiang University of Technology, Huzhou, Zhejiang Province, China, May 23, 2022. /CFP

College graduates of Zhejiang University of Technology, Huzhou, Zhejiang Province, China, May 23, 2022. /CFP

China has called on small and medium-sized enterprises (SMEs) to hire fresh college graduates, according to a CMG report on Sunday.

The National 100-Day SMEs Online Recruitment of College Graduates in 2022, jointly launched by the Ministry of Industry and Information Technology (MIIT) and the Ministry of Education (MOE), has been held since May. But due to the pandemic, the event has been held online.

So far, more than 750,000 jobs have been posted by about 110,000 companies, and more than 1.2 million resumes were submitted by college graduates, the report said, citing the MIIT.

SMEs have become an important pillar for China to stabilize its employment, given that they generate over 85 percent of employment in the country, according to the report.

The MOE's statistics suggest the number of college graduates in 2022 is expected to reach a record high of 10.76 million.

In east China's Shanghai, the local government has rolled out a series of measures to improve the city's employment of college graduates on account of the intensive competition this year.

The city's officials in May asked colleges to extend graduates' student status.

Meanwhile, an action plan to promote employment and entrepreneurship among college graduates, which was published on May 22, has required Shanghai's state-owned enterprises to dedicate at least 50 percent of their hiring quotas to college graduates.

For each college graduate hired in the city, enterprises will be given 7,800 yuan ($1,171) in tax cuts and 2,000 yuan of subsidies.

The action plan is also designed to encourage college graduates to start their own businesses. For those who run their own businesses, they will be given a tax cut of 14,400 yuan for three years.

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