An overseas student attends a job fairs in Hangzhou, in East China's Zhejiang province, on Nov 17, 2018. [Photo/IC]

Hangzhou, capital of East China's Zhejiang province, has proved to be a magnet for college graduates as the city continues to attract a growing number of top-quality young people, according to an employment report last year.

Official statistics revealed that in 2018, Hangzhou received 81,433 college graduates, breaking the 80,000 threshold for the first time, of whom graduates with master's degrees or above increased by 16.75 percent year-on-year.

Around 11,036 graduates from key universities in China sought job opportunities in Hangzhou, a year-on-year increase of 15.6 percent.

Information economy, intelligent manufacturing and service-oriented technology industries saw the largest numbers of the graduate influx, which was in tune with Hangzhou's development strategies.

As the biopharmaceuticals industry witnessed a boom in Hangzhou, job demand in relevant sectors – including biotechnology, pharmaceuticals and medical equipment – also went on the rise.

Over the years, Hangzhou has prioritized talent development and rolled out a set of preferential policies to recruit high-caliber professional and improve the overall employment landscape, said Xiong Wei, deputy head of the Hangzhou Municipal Human Resources and Social Security Bureau.

An annual living allowance of 10,000 yuan ($1,454) is granted to graduates with a bachelor's degree, 30,000 yuan for those with a master's and 50,000 yuan for those holding doctorates.