Local govts support state-owned enterprises expanding hiring of graduates, expected to help alleviate unemployment pressure

Many localities have issued policies to encourage state-owned enterprises to play an exemplary role in stabilizing employment and expand recruitment of college graduates, with some provinces and cities requiring no less than half of the hiring quota at state-owned enterprises be dedicated to college graduates.

The office of the Guangdong Provincial People's Government recently published a notice on optimizing and adjusting stable employment policies and measures to promote development and benefit people's livelihood. Showing clear support for state-owned enterprises expanding the scale of recruitment, the notice pointed out that the number of new college graduates recruited by state-owned enterprises in the province this year should be no lower than that of 2022.

Additionally, East China's Anhui Province also issued a notice requiring state-owned enterprises to recruit at least 50 percent of fresh graduates to ensure that the number of college graduates accepted by state-owned enterprises remains stable.

Besides this, the provinces of Hunan, Gansu and Jiangxi have made similar notices. Among them, Central China's Hunan Province requires that provincial state-owned enterprises accept more than 4,700 graduates, while Northwest China's Gansu requires provincial state-owned enterprises to recruit more than 5,000 college graduates in 2023. Meanwhile, provincial state-owned enterprises funded and supervised by the Jiangxi government are set to recruit no less than 5,000 college graduates this year.

The number of college graduates is expected to reach 11.58 million before the end of 2023, an increase of 820,000, according to estimates by China's Ministry of Education. 

South China's Hainan Province proposed in July that state-owned enterprises should play a role in attracting young employees and ensure that no less than 1,000 college graduates are recruited by the end of 2023, while East China's Fujian Province is requiring the implementation of a one-time increase at state-owned enterprises to ensure that the number of college graduates recruited exceeds that of 2022.

An employee at PetroChina's Beijing branch surnamed Li told the Global Times on Sunday that more than 80 percent of new hires at the branch office in 2023 have been graduates. Moreover, a staff member surnamed Zhao with the Industrial and Commercial Bank of China's research and development center in Beijing told the Global Times that the recruitment rate of graduates at the company in 2023 reached 90 percent.

The demand for state-owned enterprises to expand the scale of recruitment is in response to graduate demand and aims to alleviate the current problem of comparatively low youth employment, Xiong Bingqi, director of the 21st Century Education Research Institute in Beijing, told the Global Times on Sunday. 

According to Xinhua News Agency, as of August 11, the number of college graduates recruited by central enterprises and state-owned enterprises under the national asset supervision system has exceeded the same period in 2022. With the summer recruitment of state-owned enterprises gradually underway, it is expected that the recruitment volume will continue to increase in the future.

The State-owned Assets Supervision and Administration Commission of the State Council has also made arrangements for the recruitment of college graduates by state-owned enterprises in 2024 at a meeting held in July.

The meeting required central enterprises and local state-owned enterprises to strive to complete the recruitment plan for the 2024 college graduates by the end of August, and gradually provide a batch of high-quality positions in September and October, in order to identify a group of high-quality target candidates as early as possible.

According to the Xinhua News Agency, as of August 11, the number of college graduates recruited by state-owned enterprises under the national asset supervision system has exceeded the same period in 2022. With the summer recruitment of state-owned enterprises gradually underway, it is expected that recruitment volume will continue to increase in the future.

The State-owned Assets Supervision and Administration Commission of the State Council has made arrangements for the recruitment of college graduates by state-owned enterprises in 2024 at a meeting held in July.

The meeting required central and local state-owned enterprises to strive to complete recruitment plans for the 2024 college graduates by the end of August, and gradually provide a batch of high-quality positions in September and October, in order to identify a group of high-quality target candidates as early as possible.