A BASE for young people to start up Internet businesses, established jointly by the China Communist Youth League Qingdao Committee and EMS Qingdao Branch, will open at the end of December.

    The base, the first of its kind in Shandong Province, is in Hangzhou Road covering 1,000 square meters.

    The base will house more than 100 Internet companies. Services such as offices, warehouses, logistics and distribution will be provided to the companies to help them cut operational costs and improve efficiency.

    Five favorable policies were also set for business start-ups at the base.

    The government will pay office and warehouse rent for the first year. Those who start a business can apply for a loan of from 50,000 yuan (US$7,500) to 200,000 yuan.

    Fresh university graduates who start a business will be exempt from business registration and license fees within three years of graduation.

    Self-employed college graduates at the base will receive a one-off subsidy of 4,000 yuan.

    Training will be provided by the city’s Communist Youth League committee and qualified trainees can obtain an e-business professional certificate.

    Those eligible will also be given Qingdao hukou (permanent residency).

    (Tina Chen, Jia Zhen)