Business Intelligence on Retailing, Franchising, and Consumerism in China


Unemployed In Beijing Can Apply For Discounted Loan When Opening Online Shops

According to information from the Beijing Labor Service Management Center unemployed people in Beijing will be eligible to apply for discounted loans to start their own online shops.

The Beijing Municipal Finance Bureau, the Beijing Municipal Labor and Social Security Bureau, and the Business Management Department of People's Bank of China have jointly announced plans to enlarge the coverage of discounted loan for Beijing's unemployed people to assist them in starting their own businesses.

The notice says that the coverage of discounted loans will be increased from the former 19 sectors to more than 100 sectors in eight major industries, covering nearly all businesses and industries that are available for self-employed people. At present, the new rules and a list of these businesses have been published on www.bjjy.org.cn.

In addition, as a branch of retail sales, online shops are included in the discounted loan program for the first time. According to the new rules, the businesses that are allowed to apply for the discounted loan not only include "bricks and mortar" shops such as convenience stores and stalls, but also cover sales activities that are realized through the Internet, mailing and telephone.

At the same time, small companies who hire the unemployed people in Beijing, will also gain certain financial subsidies from the Beijing government. Small companies that employ three to twenty people concurrently in Beijing can get a 50% discount when applying for the small secured loan; and for those who employ more than twenty, they can get a full discount when applying for the loan.






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