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When you hear a newly graduated college student say that he or she runs a company， don’t be surprised， as it has become increasingly common for recent college graduates to start up their enterprises. Since 2014， the number of newly added market entities has skyrocketed in China， the majority of which are initiated by college grads.
The story of Bill Gates， who dropped out of Harvard to start Microsoft， has even been cited as an example by some to encourage students to follow suit， sometimes even while still in school. Stories of Chinese professionals who have succeed in starting their own businesses also serve to kindle a newfound passion for entrepreneurship among today’s youth.
While starting a new business carries an enormous amount of risk， it may serve to alleviate the huge pressure to find employment through a “traditional”route. China faces severe employment challenges again this year， with 7.65 million students scheduled to graduate from college. In addition， laid-off workers and surplus rural laborers need job opportunities.
Although Premier Li Keqiang announced in the Government Work Report in March that 10 million jobs will be created this year， this is still a far cry from the overall demand for jobs.
Therefore， in order to encourage and support new graduates to start their own businesses， both the Central Government and local authorities have unveiled a slew of incentive policies regarding financing， taxation and training.
Premier Li highlighted the government’s support for college graduates to start businesses as an important priority in this year’s report， and vowed to promote entrepreneurship， innovation and Internet Plus， or the integration of traditional industries with digital capabilities. He encouraged companies， universities， scientific research institutions and entrepreneurs to cooperate with each other to develop new forms of businesses. Li also urged the development of a service system for startups and encouraged investment for them.
In addition to reducing the pressure on employment， entrepreneurship by college students can boost investment and unleash the potential of high-caliber talent， thereby forming a new economic growth engine. Moreover， in order to create a fair market environment for entrepreneurs and remove hurdles for entrepreneurship and innovation， the Central Government is trying to streamline administration， delegate power to lower levels of government and improve services for startups.
Cultivating a supportive culture for new businesses will help create an entirely new set of work opportunities that will lead the nation toward further economic advancement.
The story of Bill Gates， who dropped out of Harvard to start Microsoft， has even been cited as an example by some to encourage students to follow suit， sometimes even while still in school. Stories of Chinese professionals who have succeed in starting their own businesses also serve to kindle a newfound passion for entrepreneurship among today’s youth.
While starting a new business carries an enormous amount of risk， it may serve to alleviate the huge pressure to find employment through a “traditional”route. China faces severe employment challenges again this year， with 7.65 million students scheduled to graduate from college. In addition， laid-off workers and surplus rural laborers need job opportunities.
Although Premier Li Keqiang announced in the Government Work Report in March that 10 million jobs will be created this year， this is still a far cry from the overall demand for jobs.
Therefore， in order to encourage and support new graduates to start their own businesses， both the Central Government and local authorities have unveiled a slew of incentive policies regarding financing， taxation and training.
Premier Li highlighted the government’s support for college graduates to start businesses as an important priority in this year’s report， and vowed to promote entrepreneurship， innovation and Internet Plus， or the integration of traditional industries with digital capabilities. He encouraged companies， universities， scientific research institutions and entrepreneurs to cooperate with each other to develop new forms of businesses. Li also urged the development of a service system for startups and encouraged investment for them.
In addition to reducing the pressure on employment， entrepreneurship by college students can boost investment and unleash the potential of high-caliber talent， thereby forming a new economic growth engine. Moreover， in order to create a fair market environment for entrepreneurs and remove hurdles for entrepreneurship and innovation， the Central Government is trying to streamline administration， delegate power to lower levels of government and improve services for startups.
Cultivating a supportive culture for new businesses will help create an entirely new set of work opportunities that will lead the nation toward further economic advancement.