(Yicai Global) Nov. 17 -- China will have nearly 11.6 million fresh college graduates next year, a new record high.

Students finishing higher education will increase by 820,000 in 2023 from this year, the Ministry of Education and Ministry of Human Resources and Social Security said on Nov. 15. The number of new graduates in the country has risen 66 percent, or 4.6 million, over the past decade, they noted.

The education ministry said in a document on college graduate employment and entrepreneurship that it is important to open up new market- and society-oriented jobs, give full play to policies for hiring graduates, and build a high-quality work guidance service. An on-campus recruitment plan including over 10,000 companies will also be launched.

China’s colleges and universities have been admitting more students, leading to an increase in graduate numbers, fiercer job hunting, and an increase in applications for master’s degree courses, said Hu Gang, head of the South China Society for Urban Studies.

Master’s graduates have an advantage over those with first degrees when applying for jobs, added Hu, who is also a professor at Jinan University.

Colleges and universities have reported a surge in the number of applicants for master’s degrees. Students who selected Chongqing University of Technology as their top choice for next year’s entrance examination were up 32 percent from this year, with exams held in more than 500 cities across China.

More and more young people choose to work in government agencies, public institutions, or state-owned enterprises, as these offer stable positions with high pay and social status.

The number of people applying for the national teacher accreditation test jumped 66 times to 11.4 million this year from 172,000 in 2012. Even graduates from top-flight schools Tsinghua University and Peking University have turned to teaching at primary and middle schools.

Editor: Martin Kadiev