Graph Neural Networks (GNNs) have achieved promising performance in semi-supervised node classification in recent years. However, the problem of insufficient supervision, together with representation collapse, largely limits the performance of the GNNs in this field. To alleviate the collapse of node representations in semi-supervised scenario, we propose a novel graph contrastive learning method, termed
M
ixed
G
raph
C
ontrastive
N
etwork (MGCN). In our method, we improve the discriminative capability of the latent embeddings by an interpolation-based augmentation strategy and a correlation reduction mechanism. Specifically, we first conduct the interpolation-based augmentation in the latent space and then force the prediction model to change linearly between samples. Second, we enable the learned network to tell apart samples across two interpolation-perturbed views through forcing the correlation matrix across views to approximate an identity matrix. By combining the two settings, we extract rich supervision information from both the abundant unlabeled nodes and the rare yet valuable labeled nodes for discriminative representation learning. Extensive experimental results on six datasets demonstrate the effectiveness and the generality of MGCN compared to the existing state-of-the-art methods. The code of MGCN is available at https://github.com/xihongyang1999/MGCN on Github.