MORE university graduates who want to start their own business will be able to enjoy favorable policies in Qingdao.

Those who graduated from university in the past five years or are still at university can enjoy the policies including easier loans and rent cuts. Those with a master’s degree or above are also eligible for a one-off subsidy of 5,000 yuan.

Previously, the preferential policies only applied to those with a Qingdao hukou and in the first year after graduation.

The graduates can also get loans of no more than 300,000 yuan with low interests, 100,000 yuan more than before.

Those who set up their business at the city’s business incubators for university graduates will have 100 percent of rent rebate in the first year, 50 percent in the second year and 30 percent in the third year.

The government will also give priority to high-tech products turned out by graduates’ start-ups in public procurement.

The authorities will also invest 10 million yuan to start a 100-million-yuan equity fund to foster graduates’ start-ups.(Wang Yuanyuan, Jia Feng)