China launches university 'time out' scheme so students can start their own businesses
Mainland's young entrepreneurs encouraged to defer studies and launch companies in move to cope with burgeoning number of graduates
Entrepreneurial students at mainland universities can now defer their studies to start their own businesses in a move by authorities to deal with an increasing number of graduates.
Next summer's record 7.5 million graduates - 220,000 more than last year - will put pressure on the job market, according to the Ministry of Education.
In a circular on Wednesday, it asked universities for greater flexibility, including allowing students to defer studies if they wanted to try out a business idea.
Unlike Western counterparts who often take a gap year, mainland students must complete their studies, usually four years for degrees, without interruption.
Universities will also be required to offer courses with academic credits in entrepreneurship, and invite business owners, investors and academics to mentor promising students.
Practical assistance in business registration, raising capital and tax reduction would also help students succeed.
Students will be encouraged to open online businesses where they can attract funding and support from financial institutions, non-governmental organisations, trade associations and other companies.