China is considering a platform to help students returning from abroad to set up their own businesses and support themselves, after seeing a massive influx of returning scholars in the past few years.

Over 2.5 million Chinese students studied abroad between 2016 and 2019, and of those more than two million went back to China, according to the Ministry of Education. While the statistics for 2020 are not yet available, the figure is estimated to be around 300,000 based on the number of applications for credential evaluation and recognition from students studying overseas.

Chinese authorities will work with local governments and overseas students pioneer parks to explore the possibility of “entrepreneurship demonstration bases,” which will provide a platform for the students to set up businesses, said Cheng Jiacai, director-general of the Chinese Service Center for Scholarly Exchange.

China will strive to create a favorable environment for employment and entrepreneurship, in order to encourage more students to return home, Cheng said.

Aside from students returning from abroad, China is also dealing with a growing number of graduates entering the job market. The number of graduates from tertiary institutions is expected to be around 9.09 million in 2021, the first time that the figure has exceeded nine million.

Zhu Baoliang, chief economist at China’s State Information Center, said there is strong pressure toward structural unemployment in 2021. Industries such as tourism, transportation, education, catering, culture and entertainment might not be able to bounce back in a short time, and 120 million rural laborers might be out of a job, he said.

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