College students in China won’t have to fear failure as much when launching start-ups under a newly-amended Ministry of Education regulation.
According to the new rules, students who want to start their own business can apply to take a gap year between finishing high school and starting college.
Students who have started their college studies can also apply for leave for several semesters and their period of schooling can be extended. The approval process will also be streamlined.
When they are ready to return to their studies, they will also be able to change their majors. In addition, they can earn academic credit for experience relating to their major requirements such as attempts in innovation and entrepreneurship, publishing academic papers and patent licensing.
Experts think the new regulation will effectively ease the pressure on college students by encouraging and supporting more of them to try innovative activities and start businesses.
College graduates now face severe competition for jobs, as the number of those who are entering the job market grows each year. Last year saw a record high of 7.65 million graduates.
Professor Ma Huaide, vice-president of China University of Political Science and Law, told the Beijing News, colleges should set up a special body to provide one-stop shop providing services and guidance to students who want to start a business.
It is the first major amendment to the regulation covering all aspects of student’s college life since it was enacted 12 years ago.
In another significant addition, a new chapter on students’ appeals aims to ensure students will be treated justly and equally when being punished.