Yin Hai (right), vice president of the Dalian Wanda Group and a college representative. Photo: Courtesy of Wanda

Dalian Wanda Group announced the launch of a 10-year project on September 7 that aims to help university graduates find employment or start their own business.

A recent report by the Ministry of Human Resources and Social Security found that 7 million students graduated from Chinese universities this year - the highest figure on record.

Amid the slowing economy and fewer employment opportunities, the report predicted around 3 million of these graduates will struggle to find a job this year.

Fortunately, Dalian Wanda Group has answered the call for help. The giant domestic conglomerate, which operates in major industries including real estate, tourism and retail, announced last week it would create 380,000 jobs for university graduates between 2013 and 2022.

The company has also invested more than 50 million yuan ($8.17 million) in establishing a fund that supports graduates aspiring to start their own business.

Dalian Wanda Group chairman, Wang Jianlin, said he hoped the program will cultivate China's next generation of entrepreneurs.

The company currently provides 30,000 job opportunities for graduates annually, and has hired 300,000 graduates over the past decade.