About 7.7 million college graduates will pour into China’s job market this year, reaching a new high. With about 4.4 million graduates from secondary vocational schools and about 300,000 students returning from overseas, the total number of people looking for job will hit as high as 12 million.

A report by a leading job hunting platform in China suggests that 52 percent of fresh graduates has already found employment or started their own business. Traditional industries such as machinery and equipment and construction and building material are hiring less while labor demand from “new economy” such as service industry, and especially IT and e-commerce, are employing more.

The report also showed that first-tier cities are still the most popular employment locations, with Shanghai topping the list as it gives the highest average monthly pay of 4500 yuan, or about 700 US dollars. It is followed by Shenzhen, Guangzhou, and Beijing.