Chinese website invites employers to bid on university graduates

A Chinese university has launched a website that profiles its graduates and asks employers to bid to employ them.

Hosted by eBay equivalent Taobao, Kunming University's Talent Shop literally puts talent up for auction, as around 7.5 million young Chinese prepare to graduate university with their prospects dimmed by the country's plateauing economy.

Kunming University held a graduation ceremony for 4,650 students on Thursday. The number of graduates across China is up 220,000 on last year.

The site categorizes students according to their field. The profiles include the student's ideal starting salary and the university's assessment of him or her. Sixty-five of Kunming University's best job candidates are currently profiled.

Bidding for the right to offer each student a contract begins at 1,000 yuan (161 U.S. dollars), a fee payable to the website.

The talent shop, the first such service on Taobao, is an attempt to promote new graduates to potential employers and "help them deal with the harsh employment conditions this year," said Kunming University principal He Hua at the graduation ceremony.

Man Tang, head of Taobao's service department, said the launch marked a new line of business for Taobao as it diversifies from selling products to services.

From September, the site will also allow students to pitch business ideas for crowdfunding or auction, according to He. Endi