Help young graduates find a job. The number of graduates has reached a new record with over 6 million graduates in June 2009. But they are increasingly faced with problems in finding a job. In this context, on January 25, 2009, a program to help young graduates find a job, including vocational training and soft credits for setting up new businesses was announced. This program encourages young graduates to work in poor western regions, partially or fully erasing their college debt. Likewise if they decide to join the army. Businesses with a large workforce are also encouraged to recruit young graduates, with soft governmental loans up to CNY 2 million (almost €230.000) per company. Graduates willing to set up their own business will be entitled to loans of almost CNY 50.000 (almost €6.000). Efforts were also made at the local level. As an example, on December 30, 2008, the first Job Assistance Center was created in shanghai to help young graduates get internships. The Technology University of Fujian decided to invest CNY 120.000 (€13.000) to help its graduates. This University signed agreements with about thirty businesses to provide its students with internships.
hough, as early as November (two months before New Year’s, on January 26, 2009), about 7% of cities’ rural workers were forced to go home because of factory shutdowns. It was the first time in about ten years migrant workers had to go home early. According to the Blue Book on Chinese society, published on December 15, 2008 by the Chinese Academy of Social Sciences, the global financial crisis is worsening an already fragile labor market. Indeed, since 2007, some small businesses had to close, either because they failed to comply with environmental requirements, or because Chinese currency increased.
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