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This study explores how universities in Shanghai and Hong Kong implement national graduate employment policies through their institutional practices. While most research addresses policymaking at the national level, little attention has been paid to how universities turn these policies into concrete support for students. Drawing on document analysis and graduate interviews, the study reveals the key role of career services and student affairs in shaping employability. It shows that differences in institutional interpretation, autonomy, and resources affect how prepared students feel and the opportunities they can access.