The small business loans for which the Ministry of Finance, Ministry of Human Resources and Social Security, the People’s Bank of China and All-China Women’s Federation (ACWF) co-promulgated policies in 2009 have helped many women start their own businesses.
Shaanxi Province started in 2010 to implement the policy of small business loans to women. The highest loan possible at that time for single applicants was 80,000 yuan ($12,624), and 200,000 yuan ($31,560) for women business groups. The loan periods were from two to four years.
Shaanxi distributed small business loans in 2010 of 519,000,000 yuan ($81,898,200) to help 44,000 women start up businesses. Shaanxi Province also distributed small loans in the first half of 2011 amounting to 1,186,000,000 yuan ($187,150,800) to help 77,000 women start their own businesses.
Shaanxi has, in addition, established the Women’s Business Foundation and service center for women’s professional training and employment guidance, so expanding the work of small business loans for women.
Source:Chinanews website/Translated by womenofchina.cn
