"College graduates are a small group among successful business operators," she said. "But compared with other young people, their success rate is high when YBC approves their business ideas and offers help."
Cai Xing, 27, received help from YBC to develop his business in 2010 as soon as he graduated from Beijing University of Posts and Telecommunications.
"I applied for the money in 2008 when I was a student and ran a small studio for short films and videos as well as an e-zine (a newsletter that is delivered via e-mail) with my schoolmates," he said. "YBC refused at that time, saying I was too young to run a business."
However, Cai said that since then he has received plenty of help from mentors with the program, which has been crucial to his success. His short film company now employs 20 people.
"I can't say exactly when I decided to start my own business. It just happened," he said. "Young people should realize it is a different lifestyle — full of hardship and risk — before they start a businesses. That is the reason I keep going."
A record 6.99 million students will graduate from college in China this year, a 2.8 percent year-on-year increase.
Meanwhile, the average employment rate from October to April for graduates with bachelor's degrees stood at 35 percent, down 12 percentage points compared with the same period 12 months ago, according to a poll of 50,000 graduates by MyCOS and Internet company Tencent.
Guo Jiao, executive director of the MyCOS Research Institute, said, "The number of new college graduates will exceed 7 million next year, while many employers have frozen recruitment until the economic downturn is over."
Modern movie dream in retro Mingguo street
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