There is a contract with the local government that graduate students should work there for 3 years and the central government will pay a special fund for them. “Some jobs are only available to students who will graduate in the summer of 2009,” Ministry Spokeswomen said on March 18th 2009. However, some excellent graduates such as those who once volunteered to work in the countryside in the past year, still, could take part in this project.

The short-term teacher project began 3 years ago to help college graduates find the jobs. Most of the graduates in this project may work in the rural areas and teach pupils or high school students. Besides the wage the get from the central government, they could get some extra money from the local government, said the Xu. Schools may have the right to decide whether to recruit students again after 3 years. The teachers will be employed in public job fairs.

This week, the Ministry also showed some other policies to the public, which may relieve the pressure of employment. There is also a new policy for the graduates who join the army. Government will pay their education loans and those who contribute a lot in the army may have the right to be recruited as the postgraduate students without taking those tough exams.

Those small and middle-size companies who may employ graduates this year will have good news. The government may give them some bonus and reduce some taxes.

MHRSS demanded the local governments to create more jobs for the graduates to ease the employment pressure. In the earlier interview, Wang Yadong, the deputy director of MHRSS’s employment promotion said that local government will give some bonus to college students who work at the bottom class.

Why are there some special funds or subsidies for the college students? These benefit policy is to encourage students to work in the rural area or the grassroots position or to have their own business.

Quite different from the students in the developed countries, Chinese students tend to work in the large cites and companies rather than start their own business. A recent study from MHRSS shows that only 0.3% college students choose to have their own business, while the number is much lower than the number of developed countries which is 40 percent.

Are you interested in the business opportunities in China?

China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

Please visit http://www.BPOVIA.com/ for details about our service.

They stressed that the economic priorities of China decide that it cannot accept Western demands to speed up renminbi appreciation, as such a move have already been beaten by the global financial crisis.

Aiming at changing the international financial regulatory system, the upcoming G20 financial summit will be attended by the world’s major developed and developing economies.

However, it may also become a place for some developed countries to put pressure on China so as to speed up the appreciation of its currency to ease their economic problems, said Zhao Xijun, a finance professor at Renmin University of China. “China will definitely face such a challenge.”

Given the fact that China’s trade surplus remains large and will not be replaced by a deficit in the short term, the renminbi has the potential to appreciate further in the long term, he said. “Because of the effect caused by the global financial crisis, capital may flow into economies with relatively sound development prospects,” Zhao said, “China is a favorable destination for capital flows, which will increase pressure on appreciation in the long term.”

However, after the value of the nation’s currency has risen by more than 20 percent against the dollar since July 2005, when the country scrapped the dollar peg and allowed it to fluctuate within a band, the Chinese economy could no longer afford faster appreciation.

With its GDP expanding 9 percent in the third quarter, nearly 3 percentage points lower than the whole of last year, the Chinese economy cooled off this year. By the end of September, the nation’s trade surplus kept large, while analysts said the expected sharp drop in foreign demand caused by the global financial crisis and economic easing would cost Chinese traders dearly, leading to a narrowing trade surplus in the coming quarters. This year is the worst for the country’s economic development in recent years, said premier Wen Jiabao, and he decided to use various measures to stop the economy from sliding further.

In Zhao’s opinion, the authorities do not want to see rapid appreciation of renminbi, instead they hope it could be basically stable.

At the moment, faster appreciation of the renminbi will only harm the economy and not bring any benefits, said Liu Dongliang, a currency analyst at China Merchants Bank. “It not only has relationship with the bankruptcy of coastal exporters, it will also cause serious unemployment and social instability,” he said, “If the economic situation get worsens, I cannot rule out the possibility of small-margin depreciation in the renminbi over some periods of time next year.”

As to claims, China should appreciate its currency faster, from some US politicians, analysts said they have made such claims simply to win votes but their stance is not in the interests of the US.

For example, US president-elect Barack Obama attacked China over the “manipulation” of its currency in a letter to the US National Council of Textile Organizations in late October. Such claims are based on political rather than economic consideration, said Zhao from Renmin University of China.

Xu Bin, an economist with Beijing-based Anbound Con-sulting, said, “°Rational US economist and politicians should know that a weaker renminbi would help the US, while a stronger one would have opposite effect.

He said, “Inflationary pressure in the US, which has risen to around 6 percent, will get reduced under the help of a weaker Chinese currency. But US politicians have to cater to the interest of traders and call for greater appreciation.”

Zhao said, “The renminbi has risen by more than 20 percent against the dollar since 2005, and has the US economy fared better?” As the fundamental cause of the US crisis is caused by a lack of confidence in its economy, so the renminbi’s appreciation would have no help.

Are you interested in the business opportunities in China?

China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.

Please visit http://www.BPOVIA.com/ for details about our service.