Guangming Daily carried an article originally from the Beijing Morning Post on the serious waste of talent in China. The article stated that, in 2005, there were 25 million competent people in China whose talent was wasted, which is the equivalent of a waste of over 900 trillion yuan (US$147 trillion). College students would work as waitresses or security guards and graduate students with doctorate degrees would end up being salespeople. The article blamed the basic structure of the economic system for improperly allocating resources while the available jobs also lacked technological renovation.
Source: Guangming Daily, September 13, 2013
http://rencai.gmw.cn/2013-09/13/content_8894854.htm