Returnees lower income expectations

Chinese students returning from overseas studies have lowered their expectations of income amid fierce competition, a report has found.

Published on Friday by overseas recruitment company Lockin China, the report said overseas returnees "are becoming more rational" in their income expectations as an estimated 660,000 returnees are going to join a record high 7.95 million domestic college graduates in the job market this year.

According to the report, which surveyed 150,000 Chinese overseas students and professionals as well as thousands of Chinese enterprises, nearly 64 percent of overseas returnee respondents said their expected annual income ranges from 70,000 ($10,170) to 120,000 yuan.