AS of November 2017, Shenzhen had granted some 30 million yuan (US$4.54 million) in subsidies and 79.11 million yuan in secured loans to entrepreneurs, sznews.com reported Wednesday.
Since 2015, the city has rolled out a series of incentives to promote employment through mass entrepreneurship, providing a variety of subsidies and secured loans for university graduates and other targeted groups.
The 29.8169 million yuan in subsidies given out included 15.7338 million yuan in social security subsidies, 7.979 million yuan in startup subsidies, 5.6881 million yuan in venue renting subsidies, and 416,000 yuan in entrepreneurship-driven employment subsidies.
Additionally, secured loans totaling 79.11 million yuan were issued to help set up businesses. Three incubator bases, namely Wanhuatong Concept Shopping Street in Nanshan District, Silicon Valley Power Industrial Park in Longgang District and Shenzhen Universiade Software Town, were selected, out of 51 identified municipal incubator bases, as provincial demonstration incubator bases, attracting more than 10,000 enterprises and creating 6 million jobs.
According to sources from the city's human resources and social security bureau, the rate of graduates from Shenzhen universities and colleges setting up their own businesses has shown significant growth a year after graduation.
It is noteworthy that college students can also enjoy favorable policies when taking a temporary leave from school. Meanwhile, the government provides one-to-one entrepreneurial guidance for students who intend to start a business.