NW city gov't to help college graduates start business

XI'AN, Jan. 3 (Chinese media) -- College graduates who seek

to establish their own businesses may get a maximum loan of 500,000 yuan (about

71,400 U.S. dollars), according to a regulation newly released by the government

of Xi'an, capital of northwest China's Shaanxi Province.

The guidelines for helping college graduates

establish their ventures was jointly developed by the city government and the

city commercial bank. The venture loans target at small enterprises of

high-tech, service industry and modern agriculture, which should be registered

after Jan. 1, 2008, according to government sources.

The guidelines also require that the legal

representatives should be college graduates and overseas Chinese scholars, whom

have registered permanent residence in Xi'an. And they are expected to submit

business plans together with feasibility reports for loan assessment.

The loans of two years will be used in purchasing

basic production facilities and for necessary management costs.