College graduates employment and entrepreneurship fund

Stabilizing and expanding employment was the focus of an executive meeting of the State Council, China’s Cabinet, presided over by Premier Li Keqiang on Wednesday.

An employment and entrepreneurship fund is to be established for college graduates, and local authorities are encouraged to provide one-time entrepreneurship subsidies to qualified college graduates.

The employment and internship subsidies for college graduates will be extended, with internship subsidies offered to unemployed secondary vocational school graduates in poorer areas. In addition, college graduates from poverty-stricken families or households with disabled family members will be included as recipients of employment and internship subsidies.

It is estimated that this year, the number of China’s college graduates will reach about 7.95 million, a record high. Authorities at all levels must therefore pay great attention to the issue of college graduate employment.

The Ministry of Human Resources and Social Security recently made an announcement for the key employment work in 2017, which proposed giving top priority to the employment of college graduates. Local authorities should also take measures to promote and foster college graduates’ spirit of entrepreneurship.