Shenyang launches drive to help graduates start businesses

The city of Shenyang, in Liaoning province says it is working on ways to support university graduates in starting businesses in its county-level administration regions, as part of the municipal strategy to boost local economic and social development by introducing talents.

This move will remove policy barriers and make it easier for young entrepreneurs to get loans, pay fewer taxes, and receive other forms of support. It says the new policies are intended to benefit graduates in  areas such as land use, housing allowances, education for their children, start-up funds and social insurance.

According to a document newly released by Shenyang’s government, young entrepreneurs who qualify can get an "innovation certificate" that allows them to obtain a maximum loan of 100,000 yuan per person. Meanwhile, for those who start businesses in the sector of innovative and high technologies, they can obtain a maximum loan of 200,000 yuan per person. 

The encouraged innovation sectors in Shenyang include rural tourism, nursing home services, agriculture technologies, agricultural product processing, family farmlands, and internet technology.

In addition, students who obtain bachelor’s master’s and doctor’s degrees can respectively receive house purchase subsidies of 10,000 yuan, 30,000 yuan and 60,000 yuan, when their registered permanent residence is in Shenyang and they buy commercial houses in the city.

For university graduates who have consecutively worked five years or above in Liaozhong district, Xinmin city, Faku county and Kangping county, their children can also receive education in local schools without paying the fees applicable to students who don’t have a local registered permanent residence.