Date
19 October 2017

Govt subsidizes small loans by start-ups, ministry says

The Ministry of Finance has released 9.54 billion yuan (US$1.56 billion) to subsidize interest on small loans by start-up enterprises, it said in a statement on its website Thursday. The subsidies are part of a scheme to help laid-off workers and those between jobs establish their own business. The amount is up 55 percent from last year. Altogether, the ministry has issued 25.83 billion yuan of such subsidies since 2003 on 400 billion yuan of loans, the official Xinhua news agency reported Thursday.

– Contact HKEJ at [email protected]

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