Jinan unveils new measures to support job creation for college graduates

The Jinan Municipal Government in Shandong province has unveiled new measures to support employment and entrepreneurship among college graduates.

The 40 measures integrate and optimize policies in six major areas: the stabilization and expansion of employment, grassroots employment, entrepreneurship support, talent attraction, skill enhancement, and employment services, according to a policy document released by the general office of the municipal government.

In order to stabilize and expand employment, the city will continue implementing policies such as one-time bonuses for small and micro-enterprises employing college graduates, one-time employment subsidies for college graduates, social insurance subsidies for small and micro-enterprises employing college graduates, and policies reducing social insurance premiums.

Regarding grassroots employment, initiatives include a youth internship program and social insurance subsidies for flexible employment for college graduates.

Entrepreneurship support includes policies like tax and fee reductions for startups, one-time entrepreneurship subsidies for small and micro-enterprises, individual entrepreneurship guarantee loans, and small and micro-enterprise entrepreneurship guarantee loans.

College graduates can apply for individual entrepreneurship guarantee loans of up to 300,000 yuan ($41,000).

Eligible small and micro-enterprises can apply for a maximum of 4 million yuan in entrepreneurship guarantee loans with a repayment period not exceeding two years. For qualified entrepreneurship guarantee loans, the financial department provides a 50 percent financial interest subsidy.

There are also incentives for outstanding university students, preferential policies for university students looking to experience Jinan, support policies for young entrepreneurs, and talent housing security to attract talent.

Skill enhancement initiatives involve strengthening employment guidance, one-time training subsidies, and vocational skills training subsidies.