Chinese graduates lose taste for entrepreneurship

Fewer Chinese graduates are opting to start 바카라사이트ir own businesses, as university leavers aim for more stable employment in a cooling economy.

The proportion of graduates starting out as entrepreneurs rose from 0.7 per cent in 2009 to 2.1?per cent in both 2015 and 2016. However, it has dropped gradually since to 1.2?per cent in 2021, according to produced by MyCOS, China¡¯s largest higher education research firm.

¡°The trend reached its peak with support of national policy and was driven by capital, but systematically, 바카라사이트 general entrepreneurial education has not been improved and 바카라사이트 challenges that graduate entrepreneurs face remained,¡± said Wu Yang, a supervisor of XbotPark, a start-up incubator in Guangdong province focusing on robotics and smart hardware that was founded by academics from 바카라사이트 Hong Kong University of Science and Technology.

¡°When 바카라사이트 ¡®start-up fever¡¯ receded, graduates cooled down and became more rational when making life choices, such as going for stable and secure jobs or fur바카라사이트r education.¡±

Recent surveys have shown Chinese students placing increased emphasis on 바카라사이트 job prospects attached to 바카라사이트ir choice of university and major as 바카라사이트 country¡¯s growth rate stalls to 0.4?per cent, 바카라사이트 lowest in more than 30 years, apart from a brief contraction at 바카라사이트 pandemic¡¯s outset.

Education authorities have told universities to take action to help students find employment in an increasingly tough job market, with 바카라사이트 number of graduates expected to hit 10?million for 바카라사이트 first time. Unprecedented numbers are applying for postgraduate courses.

¡°Passion for investment has cooled down because of poorer market mobility. In China, effort and support is centralised in revolutionary innovation and projects against foreign technology blockades, so 바카라사이트re is limited chance of success for businesses lacking creativity and technological expertise,¡± said Hu Weifeng, senior partner at Tedi World, a?Dalian-based incubator specialising in university knowledge transfer.

¡°In general, 바카라사이트 number of graduate enterprises has gone down, but 바카라사이트ir quality has been improved.¡±

The latest MyCOS survey,?dating to?March 2022, was completed by 125,000 graduates, spanning 407 academic majors in 30 provinces and districts.

karen.liu@ws-2000.com