A total of 73.1 percent of college graduates have signed employment contracts, or have applied for overseas studies and postgraduate studies, statistics from the Shenzhen Municipal Human Resources and Social Security Bureau showed.
There are around 28,300 college graduates in 2020, and so far 20,700, or 73.1 percent, have found their way out, higher than the average of Guangdong Province as a whole.
Among the 8,800 graduates from technical and vocational schools, 97 percent have signed letters of intent for employment.
Due to the outbreak of COVID-19, college graduates face grim challenges in employment. The city’s human resources and social security bureau expanded channels and organized more online job fairs for enterprises and students since March.
On July 1, it started an online job fair especially for college graduates by offering 54,000 posts from 2,300 enterprises. The job vacancies covered IT and Internet, medical care and biopharmacy, finance, 5G, property development and architecture, manufacturing and logistics. In June, it organized a job fair to recruit 1,382 college graduates to teach in Shenzhen’s public schools.
The bureau and its sub-bureaus in each district are planning examinations to recruit college graduates to social services units. The bureau will also join with the Shenzhen Municipal State-owned Assets Supervision and Management Commission to organize a fair to offer 2,000 posts to college graduates.
The city also offers incentives to encourage college graduates to work at small and micro-sized enterprises (SMEs), social organizations, community management and public service posts.
For the fresh college graduates and graduates within the past two years, the city will offer subsidies if they work at grass-roots public service institutions, social organizations and SMEs.
For 2020 graduates who fail to land jobs, their eligibility for social insurance subsidies for employment can be extended for one year. The bureau has also expanded the scale of internship by including recent graduates of the past two years into the internship plans at enterprises. The internship period has also been extended from six months to 12 months.
For graduates who want to start up businesses, banks have doubled secured loans to 600,000 yuan (US$85,800) per person or 3 million yuan if the startup is founded as a partnership. The borrowers can apply for the loans three times in nine years and enjoy interest subsidies from the government.