Gov't loan scheme helps Chinese women entrepreneurs, creating more employment opportunities for women

08:58, March 09, 2011      

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This combined photo shows Chinese minister of civil affairs Li Liguo (C), vice minister of civil affairs Jiang Li (R) and vice minister of civil affairs Dou Yupei attend a press conference of the Fourth Session of the 11th National People's Congress (NPC) focusing on poor people living assistance and pension service system construction in Beijing, capital of China, March 8, 2011. (Xinhua/Ren Yong)

Jiang Li, a female college graduate in east China's Jiangsu Province, has set up a clothing company with a loan obtained through a local women's organization and interest paid by government.

Obtaining a 50,000-yuan (7,614 U.S. dollars) interest-free loan in 2009 helped Jiang to start her clothing factory. Her company currently has 96 sewing machines and employs nearly 100 mostly women employees.

"It would be difficult for me to start my own company without the loan," she said.

Jiang hopes that her company in Shuyang County, Jiangsu Province can one day set up branches across the country, so as to employ more Chinese women.

Jiang is one of the many woman entrepreneurs benefitting from a government scheme that pays the interest on their loans.

In east China's Shandong Province, 6,519 women got 340 million yuan in loans last year with the local government paying the interest.

The loans helped 58 female entrepreneurs expand their businesses and create employment for over 20,000 women.

Under the scheme launched in 2009, local women's organizations help unemployed women secure bank loans of up to 80,000 yuan, and then he government pays the interest.

 
 
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Source: Xinhua

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