CX Daily: Finding Jobs for China’s 10.76 Million New College Graduates
Shanghai plans to ease strict lockdown measures for Covid-free areas.
Top Stories
There will be a record 10.76 million Chinese students leaving college campuses this year, 1.67 million more than last year.
Jobs /
Cover Story: Finding jobs for China’s 10.76 million new college graduates
As he wandered among the booths of 78 employers recruiting new graduates at Beijing’s Renmin University March 30, Chen Jun’s hopes of finding just the right job faded.
“There are very few suitable jobs,” Chen said. The senior in economics submitted only four resumes at the event, which offered more than 500 job openings.
Yang Yanlin, a postgraduate in agricultural economic management, was similarly disappointed at the event. “There are limited job options for my major, and things aren’t going well,” Yang said.
Chinese internet companies add 79,100 jobs in nine months
Covid-19 /
Shanghai to ease strict lockdown measures for Covid-free areas
Shanghai plans to tweak its lockdown by categorizing the city into three types of areas according to varying levels of risk from Covid, offering a glimmer of hope to its 25 million residents that strict restrictions on their movements could be eased if their residential communities meet certain conditions.
The planned adjustment comes as the city accelerates efforts to curb China’s worst outbreak of the coronavirus since the early days of the pandemic while struggling to provide basic groceries and medical care to families that have been sealed off in their homes for more than a week. The drastic lockdown measures have triggered growing public discontent.
Guangzhou residents rush to stockpile food as Covid cases discovered
The first cross-border e-commerce package is sent out from the Sanya bonded logistics center, South China’s Hainan province, on Feb. 25. Photo: VCG
Market /
China puts local protectionism on notice in dual circulation drive
China’s government took another step forward in implementing President Xi Jinping’s dual circulation economic strategy, releasing a policy document aimed at breaking down local protectionism and dismantling other hurdles that prevent domestic markets from working efficiently.
The opinions on accelerating building a unified national market were jointly put out Sunday by the Central Committee of the Communist Party of China and the State Council. The document covers a range of issues — anti-monopoly, market access and regulation, and protection of property rights — that also dovetail with the long-term strategy of allowing markets to play a greater role in the allocation of resources.
Overseas IPOs /
Beijing vows to accelerate implementation of new overseas IPO rules
China’s top securities watchdog will speed up efforts to put new rules surrounding overseas IPOs into effect, according to an official release Saturday.
The China Securities Regulatory Commission (CSRC) will keep the channel of overseas listings unclogged, CSRC Chairman Yi Huiman said in a speech to a business group on the same day, according to the release.
PE /
In Depth: Two winners emerge from the China concept stock crash
Two winners have emerged from last month’s crash in overseas-traded Chinese stocks — state-owned funds and holders of mainland stocks.
Typically, when there is a broad drop in the shares of Chinese companies listed in Hong Kong or elsewhere abroad, stocks in Shanghai and Shenzhen fall right along with them. But the slump in overseas-traded Chinese stocks that began last year and culminated in March’s crash wasn’t mirrored in the mainland markets.
Macao /
China to boost health cooperation with Portuguese-speaking nations, Premier says
China will boost cooperation with Portuguese-speaking countries in the areas of vaccines, medication and health amid the global economic uncertainties associated with the ongoing Covid-19 pandemic, Premier Li Keqiang said Sunday at a forum.
A communication center will be set up in Macao to deepen cooperation between China and Lusophone nations on epidemic prevention to further improve the global health governance system, Li said in a video address at the opening ceremony of a special ministerial conference of the Forum for Economic and Trade Cooperation Between China and Portuguese-Speaking Countries, also known as Forum Macao.
Quick hits /
China stocks dive over Covid controls
Global funds cut China bond holdings by record as premiums erode
A line of trucks queue Saturday on a highway from the eastern city of Nanjing to Shanghai. Photo: IC Photo
Highway /
Highway traffic curbs raise concerns about supply chain disruptions
Local governments in China have closed a number of highways to curb the spread of the omicron variant, raising concerns about supply chain disruptions and drawing a rebuke from the central government.
The highway restrictions are latest example of how local governments have scrambled to contain the country’s worst Covid-19 outbreak in two years with stricter measures, some of which have been criticized on the grounds of inconsistency and rigidity.
With market participants calling for consistent and flexible highway transport policies, the Ministry of Transport said in a Saturday statement (link in Chinese) that local governments should not impose unreasonably strict restrictions and “one-size-fits-all” measures on highway transportation.
Property /
China’s home sales plunge 47% despite government support
Sales of China’s top 50 property developers declined 47% in the first quarter from a year earlier as the embattled industry continued struggling despite pledges of support from the Chinese government.
Sales by the 50 biggest developers in the first quarter were also lower than in the same period in 2020, when the Covid-19 pandemic first hit the country and China’s economy contracted for the first time in 28 years, data from real estate information database CRIC showed.
Quick hits /
China targets big tech’s algorithms in persistent crackdown
Battery giant CATL adopts measures to avoid Covid shutdown
Editorial: Staying true to the mission of corporate compliance reform
