Zhuhai: HK, Macao youths starting businesses eligible for subsidized loans up to RMB 5 million

Released recently as an adjustment to previous policies, "Ten Measures to Boost Employment" of Zhuhai involve supporting startups, creating jobs, protecting employment rights, etc. They are aimed at facilitating higher-quality employment in the city.

(Photo / Nanfang Daily)

A large part of the measures has centered around encouraging young graduates, local or not, to land a job or start a business in Zhuhai. More startups, as Zhuhai authorities expect, will in turn bring more jobs, and will hopefully make for a virtuous employment circle with more flexibility.

To begin with, individuals, to assist with starting businesses, are now given higher credit lines and subsidies.

According to the measures, self-employed individuals can borrow RMB 400 thousand, and if with five or more partners, up to RMB 600 thousand each. The government is also offering startup training in relevant bases for those willing to give it a go, where they may receive RMB 3000 subsidy per month if they come out as exceptional trainees.

What's more, youths from Hong Kong and Macao SARs are also covered by the policy. In fact, Zhuhai has long encouraged the employment of young people from the two SARs. At most RMB 1000 living allowance is now provided each month for those who find a job in Zhuhai, along with housing allowances and employment subsidies.

Those venturing into business will also benefit in the same way as local youths, or even more.Hong Kong and Macao youths can enjoy "zero" rent, "zero" property management fee in startup training base for at most three years, and also a RMB 5 million maximum loan if eligible.

Apart from subsidies and startup support, Zhuhai has meanwhile stepped-up efforts to create jobs in state-owned enterprises and public service departments for fresh graduates. A new plan to provide free accommodation, employment instructions, policy consultations and other initiatives has also kicked off.

Author: Ray (intern)

Editor: Will, Jerry