Chongqing Govt Subsidizes Interest of Loans for Online Shop Opening

The Chongqing municipality in western China is encouraging university graduates to open online shops by paying for interest of the bank loans they take out. The local government has set up a ¥100 million entrepreneurship fund from which lending of ¥50,000-80,000 can be obtained 3 months of graduation. 1/6 of some 6.1 million fresh university graduates are expected to have difficulties finding a job this year.

$1 = ¥6.8