URUMQI, Oct. 9 (Xinhua) -- Northwest China's Xinjiang Uygur Autonomous Region has successively introduced a series of policies to support start-ups since this year, the local authority said recently.
Preferential policies including providing loans for start-ups, enhancing interest discounts, and expanding scope of beneficiaries, in a bid to further broaden employment and entrepreneurial channels as well as solve employment problems.
According to the regional Department of Human Resources and Social Security, Xinjiang has fully implemented preferential policies for veterans, rural surplus labors and college graduates to start businesses. In the meantime, the self-employed in the wholesale and retail, accommodation and catering, cultural tourism industries that have been hit hard by the COVID-19 pandemic have been included in the scope of beneficiaries of preferential policies, with an aim to alleviate their burdens and stabilize jobs.
Based on latest preferential policies, the personal loan limit for eligible entrepreneurial groups has been increased from 150,000 yuan to 200,000 yuan, with the threshold for loan application further lowered.
In addition, Xinjiang has strived to reduce taxes and fees for small and micro enterprises, and implemented a package of promotion plans for college graduates to get employed or start businesses. College graduates can apply for entrepreneurial secured loans of no more than 150,000 yuan at the places where they start businesses.
Xinjiang has also encouraged college graduates to seek employment or start businesses in emerging industries in rural areas such as modern planting, agricultural technology, agricultural product processing and rural e-commerce. (Edited by Zhang Yuan with Xinhua Silk Road, zhangyuan11@xinhua.org)
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