China improves policy on guaranteed microcredit loans

The People's Bank of China, the Ministry of Finance and the Ministry of Labor and Social Security jointly issued a circular Thursday to improve policy on guaranteed microcredit loans.

According to the circular, more people should be able to apply for guaranteed microcredit borrowers, and the management of interest subsidies should be improved.

Professional training should be linked to guaranteed microcredit loans, so as to encourage people to start businesses, the circular said.

Graduate students who are willing to start businesses in the country's western areas or townships can apply for guaranteed microcredit loans, it said.

The circular also demanded strict supervision and management of guaranteed microcredit loans to laid-off workers.

Source: Xinhua



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