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Cash aid for start-ups
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COLLEGE students or graduates can apply for financial aid of up to 200,000 yuan (US$30,599) for starting their own businesses in the city, the Hangzhou Human Resources and Social Security Bureau said at a press conference last week.
College students or graduates who left colleague less than five years ago can apply for free business space of up to 50 square meters inside college student business incubators. Graduates are eligible for three years of housing subsidy for renting a flat no more than 100 square meters in the city.
The bureau also explained the incentives for several key groups after the city government publicized a document on supporting business startups and promotion of employment which have come into effect at the beginning of this month.
The key groups include college students, college graduates, those who have been unemployed for more than half a year and registered with the bureau, the disabled and retired soldiers.
Those key groups as well as spouses of retired soldiers who have paid social insurance for more than 12 consecutive months will be able to enjoy a subsidy of 5,000 yuan on one of their social security payments.
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