first_imgIn Henan province, provincial SOEs have been told to expand hiring and reserve at least half the new positions for graduates.”Clearly, initiatives such as this run counter to the idea that China’s SOEs are run on a purely commercial basis,” said Louis Kuijs, of Oxford Economics. SOEs, which enjoy privileged access to certain sectors, have a “special responsibility” at times, he said.Government schemes sending young people to work in less developed areas of China have also been bulked up: one, where graduates help with poverty alleviation and other community support, has 5,000 more places than last year.Thousands more graduates than in 2019 will be granted passing grades in the highly competitive civil service exams, mainly held in the summer. Central Hubei province has increased its quota by more than 40%, while the northern region of Inner Mongolia has more than quadrupled its quota.Efforts to directly soak up labor are limited as China’s private sector accounts for 80% of urban jobs. But SOEs have also been told to help employment indirectly by promptly paying and reducing costs for smaller companies, said Andrew Polk, a partner at Trivium China, a research advisory.SOEs have been pivotal in driving China’s supply-led economic recovery amid the pandemic, although demand has not kept up, Polk said.Pros and consIn a letter dated July 7 to graduates embarking on grassroots work in the far western region of Xinjiang, Xi said he wanted degree holders to “contribute more to the (Chinese Communist) Party, the motherland and the people.”Coveted jobs in “the system” can provide security, status and help getting a more desirable “hukou,” a residential permit linked to access to local public services.”Nothing is more important than stability,” said Joanna Yu, an applicant for the civil service examination in Shandong province.Jiang Zhenxin, who graduated this year, will spend two years working in county-level government in southern Guangdong province.”As a Party member, working in the municipal committee is a way to serve the people,” said Jiang.But the bureaucratic life is not as comfortable as it used to be. Previous perks like gifts from local businesses have been cracked down on amid a years-long anti-corruption campaign.And advancement for ambitious cadres has also slowed, likely to better protect the middle-aged officials who are key supporters of Xi, said Jerome Doyon, a lecturer at Oxford University.”Now is not an ideal time to be a young official in China,” he said. Topics : Graduates, who generally enter the workforce in June or July, face a “severe” situation, officials have said. Available positions for them in the recent pre-graduation spring recruiting season fell by 22% on year, according to BOSS Zhipin Research.While China’s GDP bounced back into growth in the second quarter, surveyed unemployment of graduates aged 20-24 was more than three times the rate for the broader population, rising to 19.3% in June, 2.1 percentage points higher than May.State-owned enterprises, local governments, and public institutions, known collectively as “the system”, are responding to Xi’s call.Oil giant Sinopec Corp is more than doubling its 2020 recruitment numbers, with an additional 3,500 positions for new graduates. China’s thousands of state-owned enterprises, local governments, and public institutions are expanding hiring as a record number of students graduate into a job market left reeling by the COVID-19 pandemic.Around 8.7 million Chinese students are graduating this year, almost half a million more than last year, heading into an uncertain future as private firms rein in recruitment.Job stability for the young is a longstanding political concern in China. President Xi Jinping, who has previously warned that struggling graduates could “turn into negative energy,” is urging more hiring.last_img read more

first_imgFriendship, In. — John Race, Dillsboro, attended his last Friendship State Bank Board of Directors meeting on Wednesday, May 17 when he retired as a director.Race and his wife of 50 years are natives of the Dillsboro area. He recalled hayrides and heading to Friendship most Saturday nights as a kid where his dad played music.Race has a heart for helping others. After serving four years in the Navy, he earned his teaching degree, returned to Dillsboro and spent 10 years teaching with South Dearborn Schools. While he truly enjoyed the students and teachers, Race realized that he did not want to teach for the remainder of his career.Utilizing the education opportunity under the GI Bill, Race continued to take classes. Discovering a love for business and accounting classes, he took every class he could while also working as the Dillsboro Manor administrator. Additionally, he began preparing tax returns in his spare time.Race continued his journey and become a CPA. He opened his own office in 1994 when he was also asked to become a Friendship State Bank Director.“There was a lot more to being a director than I expected,” Race shared.Race realized banking was much more complex than it looked from the outside, but he is very proud of the accomplishments of the bank and the board over the past 25 years. He believes some of the most important work the board of directors did was establishing a human resources department, establishing a way to evaluate performance, significant pay increases for staff, and ensuring the employment of quality people who provide quality work and results.Race did not know any of his fellow directors when he first started, but over the years built lasting relationships. He will miss the comradery.“I will certainly miss John’s perspective at our board meetings,” said CEO Chris Meyer. “John can be feisty during a debate, which is a terrific skill to have. He challenges ideas and decisions in such a way that a better result is the outcome.” He added that John’s “wisdom, experience, and high character made him a terrific steward of our board ideals, and he represented the shareholders well.”“John, with his business experience and accounting expertise was a terrific addition to our board,” Jim Lemon, Friendship State Bank President said. “His guidance will be sorely missed.”You will continue to find Race hard at work and focused on his CPA business in his retirement from the Friendship State Bank board. His passion and love for his work as a CPA and how he can help others is undeniable.“I don’t understand why people don’t like Mondays,” Race said. “After sitting around all day Sunday, I can’t wait for Monday!…I enjoy meeting people and helping them get out of financial scrapes and when they get in trouble. It is rewarding to help others get back on track.”Chris Meyer, Friendship State Bank CEO, was elected at the 2018 Shareholders Annual Meeting to serve on the board as the next director.last_img read more