The city is offering secured loans of up to 600,000 yuan (US$85,320) to individuals that have started their own businesses.
If the businesses are operated as a partnership, each partner can get a subsidy of 600,000 yuan and the total loans are capped at 3 million yuan, according to the latest rule to promote entrepreneurship.
The rule published in the latest government gazette is to enhance support for startups, small and micro-sized enterprises. The small and micro-sized enterprises that meet the requirements can get loans of up to 5 million yuan. The money lending period is no more than three years.
The new rule has been in effect since June 5.