More Chinese graduates diverting towards starting own business, says survey

More Chinese graduates diverting towards starting own business, says survey

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Chinese graduates prefer setting up their own business instead of taking up regular jobs.

A recent survey has shown that the number of Chinese college graduates willing to setup their own business has increased in recent years. The study also found that the average salary of the self employed graduates is higher than the ones who have opted for regular jobs.

Chinese graduates

This finding is a result of the 2014 Chinese College Graduates’ Employment Annual Report, released on Monday June 9, 2014 by MyCOS – an education consulting and research institute in Beijing. The survey had studied more than 268,000 graduates from about 28 provinces and regions in China.

In 2013, 2.3% of the college graduates started their own businesses. The figure was higher than that noticed in 2012 when just 2 percent of the graduates opted to start their own businesses. In 2011 the figure was 1.6 percent and in 2010 it was 1.5 percent.

The vice president of the China Association for Employment Promotion, Chen Yu, said that the increase has been noticed due to the efforts of the government to encourage more students to set up their own businesses. Alterations such as reducing intervention, offering micro loans and cuts in taxes and fees were made by the govt.

Chen said, “These measures provide a good environment for college graduates who intend to start their own businesses”.

It was also found by the survey that the education sector is the preferred choice for graduates when they decide to begin their business.

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