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Zhejiang Offers College Graduates Half Million Yuan Start-up Loans, Chinese Government to Provide 80% Guarantee

News Snapshot:

The affluent coastal province of Zhejiang is offering college grads generous start-up loans, amidst a broader push from China’s financial authorities for greater support for small businesses and private enterprise. The Zhejiang province government said college graduates will soon be able to access start-up loans of up to 500,000 yuan (approx. USD$78,900), during a press conference held by the National Development and Reform Commission (NDRC) on 17 February. The provincial government will help to pay over 80% of the loans if the start-ups go belly up, and 100% if the loan is under 100,000 yuan. Should college graduates choose to…

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