China丨Youth continue to look beyond academic degrees

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The number of applicants for next month's national postgraduate entrance examination has dropped to 3.88 million, a decrease of 500,000 compared to the previous year, according to the Ministry of Education. This marks the second consecutive year of decline after nearly a decade of rapid growth. Applications peaked at 4.74 million last year, but the admission rate was just 24.2 percent. Despite fewer applicants, admission requirements have remained stringent, with rising qualification thresholds in disciplines such as philosophy, law, literature and management. Xiong Bingqi, director of the 21st Century Education Research Institute, attributes the decline to the diminishing cost-effectiveness of pursuing higher academic credentials. "Postgraduate degrees no longer guarantee better job prospects compared to undergraduate degrees. The devaluation of graduate degrees and the prevalence of underemployment among those with advanced degrees have made students realize that building core employ ………………………………