Sichuan's 300 Million Yuan to Help College Students Start Businesses, 10,000 Yuan Subsidy for Opening Online Shops

In July, 365,000 university graduates in Sichuan walked out of their campuses, more than the total population of Iceland. Against the backdrop of the "toughest job-hunting season," and facing an employment trend of "no toughest, only tougher," Sichuan's college students may well ask: which way lies the road ahead?

On July 17, Huaxi Metropolis Daily, together with the Sichuan Provincial Government website, conducted an exclusive interview with Wu Kaiping, deputy inspector of the Provincial Department of Human Resources and Social Security. According to him, this year our province invested 300 million yuan in fiscal funds for the first time to support and subsidize college student entrepreneurship; as of the end of June, the employment rate of graduates from Sichuan's 96 colleges and universities had reached 85.23%.

Increased Subsidy Intensity: Even Opening an Online Shop Comes with a 10,000 Yuan Subsidy

Huaxi Metropolis Daily: Compared with the past, what new changes are there in this year's new round of policies to support employment and entrepreneurship for college graduates in our province?

Wu Kaiping: Since 2010, Sichuan Province has allocated 50 million yuan in provincial fiscal funds each year to support college graduates in starting businesses. In 2014, the support funds for entrepreneurship by college graduates and current college students surged to 300 million yuan, several times more.
Not only has the support amount increased, but the scope and items of support have also grown steadily. From initially only training subsidies for college students, it has gradually expanded to the current entrepreneurship subsidies, job-seeking subsidies, social insurance subsidies, small loans and many other items. At the same time, the threshold for government support has also been lowered to the minimum — even college graduates who open an "online shop" can enjoy a 10,000 yuan subsidy policy.

How will the 300 million yuan "big red packet" be spent? For current college students and college graduates within 5 years of graduation, each entrepreneurial project is given a 10,000 yuan subsidy; if the same lead entrepreneur has multiple entrepreneurial projects, the maximum subsidy can reach 100,000 yuan. On June 30, the province allocated the first batch of 1.55 million yuan in entrepreneurship subsidies for current college students to 11 colleges and universities including Sichuan Agricultural University. For small and micro enterprises that hire college graduates in the year of graduation, the implementation period of the social insurance subsidy policy has been extended to the end of 2015. For technology-based small and micro enterprises that hire college graduates up to a certain proportion, they may apply for small loans of no more than 2 million yuan and enjoy fiscal interest subsidies.

From the provincial special employment funds, for college graduates who have left school but are not yet employed and who achieve flexible employment, complete real-name registration and pay social insurance premiums, a social insurance subsidy for a period of no more than 2 years is given. Starting from 2014, college graduates with disabilities are included in the scope of job-seeking subsidy distribution.

Using innovation to drive entrepreneurship, and entrepreneurship to drive employment: what do college students think?
Song Lunquan: Entrepreneurship mentors need practical experience

Since 2009, Song Lunquan, a graduate of Chengdu University of Technology, has been striving on the road of entrepreneurship for 5 years, and was once commended by the Sichuan Provincial Government as an "individual with outstanding achievements in employment and entrepreneurship in the province."

The "Yibin Feiying English Education Consulting Co., Ltd." under his leadership set sail from Gongxian County. Now, it has branch companies in Changning, Gaoxian County and Yibin and other cities, and has also opened a teahouse and a lime powder processing plant. The prototype of a group company is beginning to take shape, with annual profits of more than 4 million yuan.
To college student entrepreneurs, this old brother has something to say. "To start a business, you must do enough preparatory work." He advised those young people with entrepreneurial enthusiasm: "Entrepreneurship greatly requires social experience, and to prepare for entrepreneurship you should build relevant abilities at least as early as your freshman year." Regarding entrepreneurial qualities, he believes that boldness, management and marketing are very important.

Among the support the government provides to college student entrepreneurs, what he values most is "relaxing administrative approval," because to start an enterprise, a great deal of time and energy must be spent on handling all kinds of certificates. He hopes the government will further relax administrative approval and let the market eliminate those who are unqualified.

Wang Cheng: Looking Forward to Someone Explaining the Policies Thoroughly

On August 5 last year, a technology company named Huake Microelectronics was newly registered at the Jinjialin headquarters in Fucheng District, Mianyang. This enterprise, which began entrepreneurship in Luxi Town, Santai County in 2011, had upgraded. At the beginning of entrepreneurship, Wang Cheng, a graduate of the Yinxing Hospitality Management College of Chengdu University of Information Technology, first ran art specialty training, then sold disposable towels. Now, he and his partners, one responsible for an elderly care information platform and the other for an education company, have secured a place in the Mianyang market. ⟦19 In entrepreneurship, what Wang Cheng looks forward to most is "understanding the policies, and having someone help explain the entrepreneurship policies clearly." He said that as a novice, resources are very limited, and he did not know what entrepreneurship support policies existed. He looks forward to the Human Resources and Social Security Bureau setting up policy consultation windows and arranging staff proficient in the business to receive visitors, so that when junior schoolmates want to start businesses, one phone call or a visit to the service window can make everything clear.
For entrepreneurship, what Wang Cheng looks forward to most is "understanding the policies, and having someone help explain the entrepreneurial policies clearly." He said that as a newcomer, his resources are very limited, and he doesn't know what entrepreneurial support policies exist. He hopes the Human Resources and Social Security Bureau will set up a policy consultation window and arrange staff who are proficient in the work to receive visitors, so that when his junior schoolmates want to start a business, a single phone call or a visit to the service window will let them understand everything clearly.


Chen Ou: Choose Your Entrepreneurial Direction Well During the Four Years of University

On May 16 this year, Jumei Youpin was officially listed on the New York Stock Exchange in the United States, with a market value exceeding 3.5 billion US dollars. Chen Ou, now 31 years old and born in Deyang, Sichuan, became the youngest CEO of a listed company in the NYSE's more than 220-year history, and the market value of his shares exceeded 1.1 billion US dollars.

"Even if covered in bruises, one must still live beautifully." The advertising slogan Chen Ou endorsed for himself became the once-popular "Chen Ou style." For college students who are starting businesses, how can they live beautifully? What is his attitude toward college student entrepreneurship? What preferential policies does he most look forward to the government giving college student entrepreneurs? On the evening of July 17, a Huaxi Metropolis Daily reporter connected with Chen Ou.

"Entrepreneurship can be said to be a narrow escape, full of hardships." Chen Ou believes that entrepreneurs must clarify "whether I start a business to make money, or to realize my self-worth." What he understands as "living beautifully" refers to the latter; even if entrepreneurs are covered in bruises, they still greatly enjoy the self-worth realized in the process of entrepreneurship.

Chen Ou said that entrepreneurs differ from one another, and their own conditions are also different, so it is hard to generalize about exactly what support and help the government should provide. However, having studied abroad for many years, he said that abroad, many college students around him took a leave of absence to start businesses. "A few years later, they came back to continue and complete their studies." Chen Ou thinks this system is especially good, and he suggested that China also introduce similar policies to stimulate college students' entrepreneurial passion.
For college students, he advised everyone: be sure to make good use of the 4 years, and during this period, make full preparations for entrepreneurship, rather than plunging into the entrepreneurial path right after graduation. For example, during university, in the process of communicating with teachers and classmates, one can learn and accumulate entrepreneurial knowledge and experience, observe the market and observe partners. He even encouraged college students to try small investments while still in school, such as opening a small online shop, to accumulate some entrepreneurial experience and prepare for later entrepreneurship.