The South China Morning Post (February 14) reported that China's National Development and
Reform Commission (NDRC) announced on February 11 that China is rolling out support for
a record 10.76 million college students poised to graduate this year. It said the government will
offer special help to young entrepreneurs as “starting a new business has a multiplier effect in
driving up employment”. The NDRC statement said: “In recent years, more college graduates
have taken part in entrepreneurship, but they also face difficulties in financing, lack of
experiences and services among other [issues]. The exemplary activities this year will revolve
around the promotion of college graduates’ entrepreneurial practices and employment
opportunities.” The list of preferential policies includes free, government-funded start-up
incubators, special loans with reduced interest rates, fee, and tax cuts, as well as the possibility
for college students to retain school credits while taking years off to start a business. The
assistance does not include those who graduated from overseas universities and are returning
home.
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