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BIZCHINA> Top Biz News
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Youth entrepreneurship fund in pipeline
By Tong Hao (chinadaily.com.cn)
Updated: 2009-02-27 18:53 The Communist Youth League of China (CYLC) will set up a fund to help young people establish their own businesses, as part of efforts to ease employment pressures, particularly among graduates.
According to figures from the Chinese Academy of Social Sciences, 1.5 million college graduates may have failed to secure jobs by the end of last year. A further 5.92 million new graduates will enter the job market in 2009. Local governments are also offering favorable policies to boost employment prospects. For example, Shanghai allows college graduates to pay registered capital by installments within the two years of setting up their business, while Hangzhou offers college graduates guaranteed loans of 50,000 to 200,000 yuan to help them start up their own firms. (For more biz stories, please visit Industries)
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