Laid-Off Workers Secured Loans Nationwide For 1 Billion 220 Million Yuan.

On the morning of July 6th, the people's Bank of China, the Ministry of finance, the Ministry of labor and social security and the China Banking Regulatory Commission jointly convened a videophone conference to promote the implementation of the policy of small guarantee loans, calling for a small loan guarantee policy to promote the effectiveness of re employment of laid-off workers.

According to the statistics of the central bank, since the establishment of the small secured loan business of laid-off and unemployed persons in 2002, as of the end of 5 this year, the financial institutions in the whole country have issued a balance of 1 billion 220 million yuan for the small secured loans of laid-off workers, of which 1-5 yuan has increased by 590 million yuan in this year.

At the meeting, the people's Bank of China and the Ministry of labor and social security also proposed that in the second half of this year, the mode of entrepreneurship training and microfinance should be widely promoted in 100 large and medium-sized cities throughout the country.

At the same time, we will start the pilot project of establishing credit communities to promote small loans in 13 national entrepreneurship training demonstration cities.

The reporters learned that in December last year, the Guangzhou Municipal Finance Bureau issued the "implementation measures for the small loan guarantee for laid-off workers in Guangzhou", which stipulates that small secured loans are generally within 20 thousand yuan, and the longest loan period is not more than two years.