New entrepreneurship guarantee loan policy implemented in Guiyang and Guian

Guiyang and Guian New Area in Southwest China's Guizhou province began implementing a new entrepreneurship guarantee loan policy in October, according to the Guiyang municipal bureau of social security and human resources.

The maximum personal entrepreneurship guarantee loan limit has increased from 200,000 yuan ($27,488.22) to 300,000 yuan. The maximum small and micro enterprise entrepreneurship guarantee loan limit has been increased from 3 million yuan to 4 million yuan.

For small and micro enterprises, the proportion of newly employed individuals who meet the requirements for entrepreneurship guarantee loans in the year prior to applying has been reduced from 15 percent to 10 percent of existing employees.

The key target groups for the new policy include registered urban unemployed individuals, individuals facing employment difficulties, veterans, individuals who have completed prison sentences, university graduates, employees and unemployed individuals from enterprises involved in resolving excess production capacity, migrant workers returning to rural areas for entrepreneurship, online merchants, individuals who have been lifted from poverty, rural self-employed farmers, and eligible small and micro enterprises.

The aforementioned groups can also enjoy financial interest subsidies.