1. Yu Dongdong, a returning student launching a jewelry startup in China, sought government subsidies via social media and contracted an agency promising high success rates [para. 1]. The agency provided minimal help like template tweaks, pressured her to rent office space from them for 34,000 yuan ($5,007), and took fees and 20% commission, consuming nearly all her subsidy after a year [para. 2][para. 3].2. This is typical amid China's booming subsidies for graduate entrepreneurs, spawning intermediary agencies that charge fees devouring subsidies via social media ads [para. 4]. With 12.7 million graduates entering a tough job market (youth unemployment ~17% in March), concerns rise over funds reaching middlemen [para. 5].3. Policies like Hangzhou's 50,000-200,000 yuan grants plus rent support attract both entrepreneurs and agencies [para. 7][para. 8]. Yu paid 5,800 yuan for Ruifu's package (consulting + finance fees + 20% commission) and was steered to their rent [para. 9]. Wang Le paid 5,500 yuan + 10-15% to Maibo Technology [para. 10].4. Agencies lure via social media "success stories" like "Returnee Ph.D. Gets 9.334 Million Yuan," shifting to WeChat with deadline pressure [para. 12][para. 13]. Official info is hard to find; even experts struggle [para. 14]. Studies show 40-57% miss benefits due to info gaps, 70% of Guangdong students unaware [para. 15].5. Agencies project professionalism with fancy offices [para. 16]. But help is superficial: superficial advice, self-revisions, exaggerations for Yu [para. 18]; templates and AI-suspected plans for Wang, with errors [para. 19]. Agencies deny high fees/commissions when queried but quote 20% posing as clients [para. 20].6. Blogger notes agencies overload clients, providing perfunctory aid near deadlines, exploiting info asymmetry [para. 21]. Recourse is limited: police see civil disputes; fees unrecoverable; fear of backlash [para. 23][para. 24]. Ruifu sued Liu Hao for unpaid commission but lost (10-20% on grants violates morals) [para. 25]. Another paid Ruifu 14,000 yuan under pressure despite independent application [para. 26].7. Officials say no intermediaries needed, no fees; aware and coordinating, but no measures yet [para. 27].AI generated, for reference only