Zhejiang embraces prosperity drive

Business opportunity

Xu, a 29-year-old Anji native and college graduate, discovered the business opportunity when some relatives complained about the information gap for local travel.

In 2019, she quit her job in Hangzhou, the provincial capital, and returned to her hometown to start the business.

"I started with 60,000 yuan. At the most difficult time, I only had 25 yuan in my pocket. I even begrudged buying a bottle of water," she told China Youth Daily in a recent interview.

She received a loan of 100,000 yuan thanks to a recommendation from the Anji government.

The money came from a foundation that encourages young people who start businesses in the province, and it has also offered Xu assistance by helping to manage her account.

Xu's success reflects Zhejiang's preferential policies aimed at attracting high-quality talent and encouraging graduates to return to rural areas and create startups. It is intended to stimulate local socioeconomic development and promote the cause of common prosperity.

Last month, Chen Zhong, deputy director of the Zhejiang Provincial Human Resources and Social Security Department, told a news conference that college students can borrow up to 500,000 yuan to start businesses.

If the venture fails, the government will help repay at least 80 percent of the loan initially, while extending the period for borrowers to pay back the money. Those who are unable to fully repay the loan may be placed on a credit blacklist.

Noting that more than 10 million students will graduate from China's colleges and universities this year, Chen said the province will make every effort to seize the opportunity to attract more educated young people.