Commission said that more than 231,000 college students graduated from universities in
Beijing last year, but 37.5 percent of employed graduates chose to work outside the capital.
A female college student surnamed Zhang said that she chose to w
ork in Wuhan, Hubei province, after graduating from Tsinghua University in June, 2018.
“The biggest reason driving me away from Beijing was the living cost,” she said. “Tho
ugh I can earn 8,000 ($1,160) or even 10,000 yuan a month in Beijing, the rent may cost me 3,000 yuan or more ea
ch month, let alone other expenses such as meals, transportation and getting together with friends.”
In contrast, some so-called new first-tier cities like Chengdu, Sichua
n province; Hangzhou, Zhejiang province; and Wuhan have sprung up as new at
tractions to college graduates for their cheaper living costs and preferential policies to newcomers.
shows that college students slated to graduate in 2019 have higher
expectations of working in these cities, than in cities like Beijing, Shanghai and Guangzhou.
According to the platform, 44 percent of new graduates this year wish to find their jobs in new fir
st-tier cities, while only about 30 percent hope to work in Beijing, Shanghai and Guangzhou.
Yang Zheng, who graduated with a master’s degree from Fudan University in Shanghai in March, said th
at he received three offers from companies in the city, but finally chose a high-tech enterprise in neighboring Hangzhou.
“I’ve spent about seven years in Shanghai, it’s time to explore a new world,” he said, laughing. “The most importa
nt reason I chose Hangzhou is the city’s potential development in the high-tech industry, which can bring us more opportunities.”
China in 2018 had 202 unicorns valued at a combined total of $744.6 billion, according to a Greatwall Strategy Consultants report.
A unicorn is a privately held startup valued at more than $1 billion.
Seven of the companies are considered super unicorns – companies valued at more than $10 billion, the report said.
They are Ant Financial ($150 billion), Bytedance ($75 billion), Didi Chuxing ($60 bi
llion), Kuaishou ($20 billion), JD Digits ($20 billion), Cainiao ($20 billion) and Bitmain ($14.5 billion).
China’s unicorns come from 22 industries, with e-commerce, smart logis
tics, new entertainment, artificial intelligence, and new energy and smart vehicles the top five sectors.