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Chen Zhong, deputy director of Zhejiang Human Resources and Social Security Department, unveiled Zhejiang's entrepreneur-friendly plan at a press conference hosted by China's National Development and Reform Commission (NDRC) on Thursday, introducing that Zhejiang is encouraging college students to start their business without worrying about the worst-case scenario with a policy that promises to completely cover their loans under 100,000 yuan and 80% for the amount in excess.

There are abundant generous employment policies for college grads in Zhejiang. Zhejiang, except the capital city of Hangzhou, will give access to students who graduated from junior colleges or above the "hukou" or residency. College graduates who work in Zhejiang can enjoy living allowance ranging from 20,000 yuan to 400,000 yuan or housing subsidies. College students who want to start a business can borrow 100,000 to 500,000 yuan. 

Zhejiang has promised that if the college students go belly-up, the government will compensate for the loan of less than 100,000 yuan, and 80% of the loan over 100,000 yuan will be compensated by the government. For college students engaged in housekeeping, pension and modern agricultural entrepreneurship, Zhejiang will provide them with an amount of 100,000 yuan of entrepreneurship subsidies. For college students who work in these fields, Zhejiang will give each person 10,000 yuan of employment subsidies a year, continuously for 3 years. College students from poor families will be provided with a subsidy of 3,000 yuan per person so that they can find jobs or start their own businesses. 

Editor: Ye Ke