Wuhan to offer financial support to small, micro businesses

The government of Wuhan, the city hardest hit by the novel coronavirus outbreak on the Chinese mainland, will provide financial support to help restore employment and the development of small and micro businesses, according to a city official.

The city government will work to make it easier for small and micro businesses, which play a key role in people's employment, to obtain loans and spur these enterprises to hire more people, Wu Gang, chief accountant at the Wuhan Municipal Human Resources and Social Security Bureau, said at a press conference held in the city on Monday.

"These enterprises will get a 1,000 yuan ($140) subsidy and a certain amount of social security allowance for each person they hire," he said, adding that human resources services also will be issued 1,000 yuan for every person they recommend to work at such enterprises.

Wu noted that college graduates who are willing to work at small and micro enterprises will get a social security subsidy. In addition, each student graduating from Wuhan colleges in 2020 will get a 1,400 yuan as an allowance to help them overcome difficulties in hunting for a job or starting their own businesses, he said.

The government of Wuhan also will support small and micro businesses to offer vocational and pre-occupational training, he added.