Average starting pay for graduates looking up, says People Daily

People Daily has this short two-paragraph news item on the latest developments in starting pay for fresh graduates:

The Education and Economic Research Institute of Peking University and the Institute for Higher Education recently issued the "2007 employment situation for college graduates" survey results. The investigation revealed that the employment rate of graduates in 2007 reached 70%; the average starting salary for graduates was 1,798 yuan; and half of graduates received less than 1,500 yuan. The employment rate of college graduates is worse than that of junior college students.

The survey showed that half of the monthly starting salary for college graduates is above 1,500 yuan. Fifty percent of graduates start between 1,000-2,000 yuan; 80% of graduates start between 800-3,000 yuan; and 90% of graduates start between 700-4,500 yuan. The average starting salary for college graduates in 2007 was 1,798 yuan, an increase of 210 yuan over that of 2005. Investigations revealed that salary levels depended on the nature of work unit, type of work, and place of employment. The average income in municipal or provincial capitals is, at most, 2,074 yuan.

1,798 yuan? That's even less than what our ayi makes! We also find it incredible to think that there are graduates who are willing to accept work for 700 yuan per month! In light of the ever greater number of graduates that China is churning out year on year at a rate that outstrips growth in the supply of new jobs, the claim that fresh graduate pay has risen 210 yuan over that of 2005 also seems somewhat dubious. Are there any HR experts out there that can shed some light on this?

Photo from World Linux Traveller.