Those who lack connections are often out of luck. If you've read much about China, you know that this is true for most things in Chinese society. There's also a lot of discrimination on the basis of gender. Women have a much harder time finding a job. Sorry about that, but this is still a fact of life in most of the world.
Most new graduates are underemployed.
After spending four years studying various complex theories and techniques, they are often assigned to do manual labor or clerical work. They get little respect. There's a lot of jealousy in the workplace towards those who are more educated or seen as advantaged. One of my students was assigned to manual, very dangerous, labor in a petroleum refinery after getting his degree in Management. Another was assigned to a factory after completing his Biology degree.