NEW YORK/SHANGHAI -- New graduate Glonee Zhang had high hopes when he landed a job at a lithium battery company in Shenzhen last summer. Now, like more than one in five young people in China, he's out of work.

As nearly 12 million Chinese graduates leave college this summer, they face doors slamming shut on job creation by private businesses after years of Beijing's mistrust and harsh regulatory scrutiny of the sector. © Illustration by Yoshiko Kawano
Record youth unemployment after Beijing clampdown on private sector, FDI slump